The British pound has remained under constant downside pressure against the US dollar during the European trading session due to fears about UK politics and a hard-Brexit. The GBPUSD pair remains technically weak below the 1.2710 level, with the 1.2655 level the next bearish trigger point. Overall, the bullish pattern on the four-hour time frame remains valid while price trades above the 1.2610 level.
The GBPUSD pair is only bullish while trading above the 1.2710 level, key resistance is located at the 1.2755 and 1.2800 levels.
The GBPUSD pair is only bearish while trading below the 1.2710 level, key intraday support remains at the 1.2655 and 1.2610 levels.
