- Stronger US Dollar continues to weight on GBP/USD that heads for lowest daily close since June 2017. On the positive side for the pound, it managed to move off lows signaling no clear bias for the next sessions, however, the main trend is still bearish.
- Ahead of the Asian session, a recovery above 1.2700/10 could lead to a test of 1.2730/40. If the pound breaks and holds above 1.2740 it could point to a consolidation phase.
- On the downside, a slide under 1.2680 would expose 1.2660 and increase the odds of another leg lower with a target at 1.2620/30.
GBP/USD 15-minute chart
Spot rate: 1.2709
High: 1.2734
Low: 1.2660
Trend: Neutral
Resistance 1: 1.2710
Resistance 2: 1.2725
Resistance 3: 1.2780
Support 1: 1.2660
Support 2: 1.2625
Support 3: 1.2600
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