GBPUSD PRICE ACTION REMAINS WEAK
The British pound has once again started to trade below the 1.2800 level against the US dollar, after meeting strong selling interest from the 1.2819 level during the European trading session. Price-action surrounding the GBPUSD remains weak, as Brexit concerns keep any upside rallies in the pair relatively contained. Traders now await key US macroeconomic data and a scheduled speech from Bank of England Governor Mark Carney.
The GBPUSD pair is only intraday bearish while trading below the 1.2790 level, key technical support remains at the 1.2732 and 1.2695 levels.
If the GBPUSD pair continues to trade above the 1.2790 level, key intraday resistance is now found at the 1.2819 and 1.2839 levels.