GBPUSD turns bearish
The British pound has fallen sharply lower against the US dollar, following the Bank of England monetary policy decision yesterday. The GBPUSD pair has a strong bearish bias while trading below the 1.2500 level and soon starts to towards the 1.2330 level. Any moves back towards the 1.2440 technical area are likely to be used as short-term selling opportunities for GBPUSD.
The GBPUSD pair is only bullish while trading above the 1.2500 level, key resistance is found at the 1.2540 and 1.2600 levels.
The GBPUSD pair is only bearish while trading below the 1.2500 level, key support is found at the 1.2360 and 1.2330 levels.