GBPUSD WATCHING 1.2785 SUPPORT LEVEL
The British pound has slumped towards the 1.2800 level against the greenback after a fresh round of US dollar strength and bearish Brexit headlines. A clear break below the 1.2785 support level will likely accelerate the GBPUSD pairs downside towards the 1.2700 support level. Sterling buyers need to move price above the 1.2866 resistance level to negate intraday selling pressures.
The GBPUSD pair is strongly bearish while trading below the 1.2800 level, key support is now found at the 1.2785 and 1.2700 levels.
If the GBPUSD pair moves above the 1.2866 level, buyers will likely test towards the 1.2900 and 1.2921 resistance levels.