GBPUSD bearish 1.2300 possible
The British pound has fallen to a fresh weekly trading low against the US dollar as bearish Brexit news pushes the pair lower. Continued weakness below the 1.2425 level may prompt a technical breakdown in the GBPUSD pair, which could extend towards the 1.2300. Overall, the 1.2385 level is currently the strongest form of technical support before the 1.2300 level comes into focus.
The GBPUSD pair is bearish while trading below the 1.2425 level, key support is found at the 1.2385 and 1.2300 levels.
If the GBPUSD pair trades above the 1.2425 level, key resistance is found at the 1.2470 and 1.2510 levels.