GBPUSD turning bearish

The British pound has seen a sharp reversal from the 1.3190 level against the US dollar, leaving the pair bearish over the short-term. Traders are now likely to sell the GBPUSD pair towards the 1.3055 level, although the 1.2900 level remains the wider goal. Only a sustained move above the 1.3190 resistance level would cause short-term traders to turn bullish towards the GBPUSD pair.

• The GBPUSD pair is only bullish while trading above the 1.3190 level, further upside towards the 1.3250 and 1.3380 levels then seems possible. 

• If the GBPUSD pair trades below the 1.3190 level, key support is found at the 1.3055 and 1.2900 levels.