GBPUSD breakdown continues
The British pound has continued to slip lower against the US dollar during the European trading session, with the pair touching a three-week trading low. The 1.2830 level is now key support, with near-term weakness in the GBPUSD pair expected while price trades below the 1.2850 level. Brexit uncertainty, technical selling and overall US dollar strength are all major factors weighing on sterling at the moment.
The GBPUSD pair is heavily bearish while trading below the 1.2850 level, key technical support is found the 1.2830 and 1.2780 levels
If the GBPUSD pair moves above the 1.2850 level, buyers may test towards the 1.2890 and 1.2920 levels.