GBPUSD HEAVY SELLING EXPECTED BELOW 1.2955

The British pound is continuing to tumble-lower against the US Dollar, with price fast-approaching the lowest trading levels of the year so far. The GBPUSD pair is likely to come under further selling pressure if the key 1.2955 support level is broken later today. Sellers will likely target the 1.2880 support level, while buyers will attempt to move the pair back above the 1.3000 resistance level.

• The GBPUSD pair is strongly bearish while trading below the 1.3000 level, key support is found at the 1.2950 and 1.2880 levels.

• If the GBPUSD pair moves above the 1.3000 level, buyers may target the 1.3130 and 1.3170 resistance levels.