The British pound has continued to move lower against the US dollar during the European trading session, with the pair approaching the critical 1.2610 level. Bulls may look to enter around the 1.2610 level for a better risk-reward entry, while sellers will try to breach this level for an even deeper drop towards the 1.2520 level. The bullish inverted head and shoulders pattern on the four-hour time frame is also back in focus.
The GBPUSD pair is heavily bearish while trading below the 1.2660 level, key support is found at the 1.2610 and 1.2520 levels.
GBPUSD pair is only bullish while trading above the 1.2660 level, key resistance is found at the 1.2710 and 1.2730 levels.
