GBPUSD FINDS SUPPORT AT 1.2640

The GBPUSD pair is currently trading around the 1.2670 region, after finding pullback support at 1.2640, after yesterday's rollercoaster move to 1.2710.

British Prime Minister Theresa May will today travel to Brussels, to begin negotiations with the European Union on the issue of expatriates rights after Brexit.

A failure to find common ground on this issue, could potentially jeopardize the United Kingdoms ability to secure a Brexit deal, expect continued volatility in the British pound as talks progress.

The GBPUSD pair remains bullish in the short term whilst trading above the 1.2650 level, with the pair needing to trade above the weekly pivot point at 1.2744, to re-claim medium term bullishness.

To the upside, GBPUSD resistance is located at the 1.2690 level, and then further up, the Wednesday swing price high at 1.2710.

Support for the pair comes in at the daily pivot point, at 1.2655, and then the former monthly low at 1.2636. Below 1.2636, price should further decline towards the 1.2600 level.