The British pound sterling is retreating after rising to a three-month high.
Price action is supported by the rising trend line at the moment. This could keep the GBPUSD currency pair supported for now.
Failure to post any new highs is potentially weighing on the downside bias.
There is also the possibility that a double top pattern is emerging near the top.
This would mean that GBPUSD could see further losses if it closes below the 1.3300 support.