The British pound has given back early week gains against the US dollar, following a strong technical rejection from the 1.2700 level on Wednesday. The GBPUSD pair has a strong bearish bias while trading below the 1.2660 level and may weaken towards the 1.2600 support level. It is also worth noting that price is once again trading below the GBPUSD pairs one-hundred-period moving average on the four-hour time frame.
The GBPUSD pair is heavily bearish while trading below the 1.2660 level, sellers may now test towards the 1.2600 and 1.2528 levels.
If the GBPUSD pair trades above the 1.2660 level, buyers may test towards the 1.2700 and 1.2738 resistance levels.
