GBPUSD REMAINS UNDER TECHNICAL PRESSURE
The British pound continues to hover around the 1.2800 level against the US dollar as heavy selling pressure remains on sterling. The GBPUSD is strongly bearish while trading below the 1.2866 level, the daily MACD indicator is also now trending lower. A clear breach of the 1.2800 support level is likely to expose the GBPUSD pair to technical selling towards the August monthly trading low, at 1.2785.
The GBPUSD pair is strongly bearish while trading below the 1.2800 level, key support remains at the 1.2785 and 1.2700 levels.
If the GBPUSD pair moves above the 1.2830 level, buyers are likely to test towards the 1.2866 and 1.2900 resistance levels.