GBPUSD UNDER PRESSURE BELOW 1.2900
The British pound remains under pressure against the US dollar after the United Kingdom Manufacturing PMI missed market expectations with a 52.8 reading. The GBPUSD pair is likely to come under additional selling pressure while trading below the 1.2900 level. The MACD indicator is also now starting to trend lower across the one-hour time frame.
The GBPUSD pair is strongly bearish while trading below the 1.2900 level, key support is found at the 1.2850 and 1.2800 levels.
If the GBPUSD pair moves above the 1.2900 level, buyers may test towards the 1.2930 and 1.2955 resistance levels.