GBPUSD TECHNICALS STILL SUPPORT SELLING

The British pound has fallen to a fresh yearly trading-low against the US dollar during the European session, as the recent move lower in sterling shows few signs of stopping. The GBPUSD pair looks set for a fifth-week of declines on Brexit no-deal fears, with price tumbling towards the 1.2840 level. Sellers are likely to target the 1.2810 and 1.2750 levels over the coming sessions.

• The GBPUSD pair remains strongly bearish while trading below the 1.2900 level, key support is found at the 1.2810 and 1.2750 levels.

• If the GBPUSD pair moves above the 1.2900 resistance level, key intraday resistance remains at the 1.2922 and 1.2955 levels.