GBPUSD 1.2800 possible
The British pound is coming under increasingly downside pressure against the US dollar currency and is now trading around the 1.2900 level. The GBPUSD pair could weaken towards the 1.2800 support level if the 1.2900 level is breached. It is worth noting that traders are now using any upside rallies in the GBPUSD pair as short-term selling opportunities.
The GBPUSD pair is only bullish while trading above the 1.3075 level, further upside towards the 1.3100 and 1.3150 levels then seems possible.
If the GBPUSD pair trades below the 1.3075 level, key support is found at the 1.2900 and 1.2800 levels.