GBPUSD vulnerable to intraday losses
The British pound is starting to drift lower against the US dollar, following the release of mixed UK economic and negative sentiment towards sterling ahead of Tuesday’s crucial Brexit vote. A clear breach of the 1.2700 level exposes further downside towards at least the 1.2660 support zone. To the upside, GBPUSD bulls need to break above the 1.2800 level to trigger technical buying.
The GBPUSD pair is intraday bearish while trading below the 1.2740 level, key technical support is found at the 1.2700 and 1.2660 levels.
If the GBPUSD pair trades above the 1.2740 level, buyers may test towards the 1.2780 and 1.2820 levels.