GBPUSD trading under 1.2580
The British pound has continued to turn lower against the US dollar during the European trading session, with the pair falling under the pivotal 1.2580 level. Sellers now have the upper hand and could start to launch a bearish attack towards the 1.2480 support level. Going forward, bulls need to move price above the 1.2660 level to encourage a test of the current monthly trading high.
The GBPUSD pair is only bearish while trading below the 1.2580 level, key support is found at the 1.2480 and 1.2410 levels.
If the GBPUSD pair trades above the 1.2580 level, key resistance is found at the 1.2660 and 1.2720 levels.