GBPUSD BULLS LOSING MOMENTUM
The British pound is losing bullish momentum against the against the US dollar after the pair was sold aggressively from the 1.2880 level on Friday. Brexit concerns have limited the GBPUSD pairs upside, as the UK moves into the final stages of negotiations with the European Union. Buyers will continue to aim for the 1.2910 level, while sellers will target towards the 1.2775 support level.
The GBPUSD pair is only bearish while trading below the 1.2850 level, key support is now found at the 1.2810 and 1.2775 levels.
If the GBPUSD pair holds above the 1.2850 level, key intraday resistance is found at the 1.2910 and 1.2958 levels.