The British pound remains under downside pressure against the US dollar on Tuesday, with a bearish reversal pattern forming across the lower time frames. Current short-term technical analysis shows that the GBPUSD pair could fall towards the 1.2310 region if the 1.2385 level is broken. A sustained move above the 1.2510 level should be taken as a bullish sign for the currency pair.
The GBPUSD pair is bearish while trading below the 1.2510 level, key support is found at the 1.2385 and 1.2310 levels.
If the GBPUSD pair trades above the 1.2510 level, key resistance is found at the 1.2580 and 1.2610 levels.
