GBPUSD BELOW KEY SUPPORT

The British pound has fallen to its lowest trading level against the U.S dollar since July 11th, hitting 1.2823 during the European trading session.

Earlier the GBPUSD pair breached key technical support, found at 1.2839, and now risks extending intraday trading losses towards the 1.2810 and 1.2750 levels.

Sterling remains bearish on all-time frames, with price now trading firmly below the pairs key 50 and 100-day moving averages.

Key technical support is found at the 1.2810, 1.2790 and 1.2750 levels, with the GBPUSD 200-day moving average, located at the 1.2645 level.

Short-term resistance for the GBPUSD pair is now found at the 1.2839 and 1.2858 levels, with the key 100-day moving average acting as critical resistance, at 1.2877.