GBPUSD descent continues
The British pound has continued to slide lower against the US dollar after more weak economic data from the United Kingdom economy this morning. The GBPUSD pair is increasingly likely to move towards its bearish targets at the 1.2520 and 1.2460 levels. Overall, bulls need to move price back above the 1.2610 level to stop the ongoing decline from worsening.
The GBPUSD pair is heavily bearish while trading below the 1.2610 level, key support is found at the 1.2520 and 1.2460 levels.
GBPUSD pair is only bullish while trading above the 1.2610 level, key resistance is found at the 1.2660 and 1.2710 levels.