The British pound has remained weak against the US dollar during the European trading session, with the pair repeatedly struggling to overcome the 1.2600 level. A further bearish breakdown below the 1.2560 level is likely to trigger the next heavy sell-off in the GBPUSD pair. Overall, broad based US dollar strength continues to weigh on most major currencies in Monday trade.
The GBPUSD pair is only bullish while trading above the 1.2600 level, key resistance is located at the 1.2630 and 1.2655 levels.
The GBPUSD pair is heavily bearish while trading below the 1.2600 level, key support is found at the 1.2560 and 1.2480 levels.
