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  • GBP remains under heavy pressure after the London close.
  • The level to beat for sellers is the 1.2360 support.
 
 

GBP/USD daily chart

 
The Sterling is trading in a bear trend below the 100 and 200-day simple moving averages (SMAs).
 
 

GBP/USD four-hour chart

 
 
The market broke below the 100 SMA and is settling above the 1.2360 support. A breakdown of this level can expose the 1.2320 and 1.2280 support level, according to the Technical Confluences Analysis.
 
 

GBP/USD 30-minute chart

 
 
 
 
The market is under heavy pressure near two week’s lows. Immediate resistance is seen at 1.2380 followed by the 1.2415 price level.
 
 
 
 

Additional key levels