GBPUSD still under downward pressure
The British pound remains confined to range-bound trading against the greenback on Friday, despite broad-based in the US dollar Index. Sellers failed to break below the 1.2600 support level on Thursday, further encouraging short-term technical buying in the pair. It is worth noting that the GBPUSD remains extremely weak while price trades below the important 1.2660 level.
The GBPUSD pair is strongly bearish while trading below the 1.2600 level, key support remains at the 1.2580 and 1.2528 levels.
If the GBPUSD pair trades above the 1.2660 level, buyers may test towards the 1.2700 and 1.2735 resistance levels.