GBPUSD still bearish
The British pound is attempting to move higher against the US dollar, with the pair trading closer to the pivotal 1.2772 resistance level. If bulls fail to break above the 1.2772 level, swing-traders are likely to use the technical correction as an opportunity to sell the GBPUSD pair. The MACD indicator on the daily time frame is bearish and is highlighting growing downside pressure.
The GBPUSD pair is heavily bearish while trading below the 1.2772 level, key support is found at the 1.2700 and 1.2662 levels.
If the GBPUSD pair trades above the 1.2772 level, key intraday resistance is found at the 1.2810 and 1.2830 levels.