The British pound has remained weak against the US dollar during the European trading session as buyers struggle to move price above the 1.3100 resistance level. The four-hour time frame continues to show price trapped within a neutral triangle pattern. Technical indicators on the four-hour time frame are showing that selling pressures towards the GBPUSD pair are starting to increase.
If the GBPUSD pair trades below the 1.3060 level, key support is found at the 1.3000 and 1.2970 levels.
If buyers move price above the 1.3100 level, key resistance is found at the 1.3189 and 1.3267 levels.
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