The British pound is back under downside pressure against the US dollar in early-week trading, as the recent rally in the pair continues to unravel. The GBPUSD pair is intraday bearish while trading below the pivotal 1.2890 level, with sellers increasingly likely to test the next major support level, at 1.2810. Aside from the chances of a hard-Brexit increasing over the weekend, the MACD on the four-hour time frame is now starting to trend lower.
The GBPUSD pair is intraday bearish while trading below the 1.2890 level, key technical support is found at the 1.2810 and 1.2750 levels.
If the GBPUSD pair trades above the 1.2890 level, key resistance is found at the 1.2930 and 1.3000 levels.
