GBPUSD breakdown continues
The British pound continues its recent bearish breakdown against the US dollar, with sellers probing the important 1.2480 support level. A sustained move below the 1.2480 level could prompt GBPUSD technical selling towards at least the 1.2460 and 1.2435 levels. Overall, the US dollar is extremely strong across the board today, ahead of a key speech by Federal Reserve Chair Jerome Powell later today.
The GBPUSD pair is heavily bearish while trading below the 1.2505 level, key support is found at the 1.2480 and 1.2435 levels.
The GBPUSD pair is only bullish while trading above the 1.2530 level, key resistance is found at the 1.2570 and 1.2610 levels.