GBPUSD Selling accelerates
The British pound is continuing to sell-off against the US dollar currency, due to Brexit concerns and fears over another Coronavirus lockdown in the UK. Technical analysis shows that the GBPUSD pair could reach the 1.2810 level if the 1.2850 support level is broken. To the upside, bulls need to anchor price above the 1.2930 level to encourage GBPUSD technical buying.
If the GBPUSD pair trades above the 1.2930 level, key resistance is found at the 1.2980 and 1.3000 levels.
The GBPUSD pair is only bearish while trading below the 1.2930 level, key support is found at the 1.2850 and 1.2810 levels.