GBPUSD watching reversal candle
The British pound has fallen to a fresh weekly trading low against the US dollar after being sold heavily from the 1.2700 level during the European trading session. The four-hour time frame is showing a bearish reversal candle forming following the latest sell-off. Four-hour price closes below the 1.2640 support level should be considered heavily bearish for the GBPUSD pair.
The GBPUSD pair is bearish while trading below the 1.2679 level, key support is located at the 1.2640 and 1.2600 levels.
If the GBPUSD pair trades above the 1.2679 level, key intraday resistance is found at the 1.2700 and 1.2747 levels.