The British pound has turned lower against the US dollar after recent reports suggested that Brexit negotiations still face hurdles before a deal can be reached. The GBPUSD pair is now trading under the 1.2800 level, leaving the 1.2720 level as the strongest area of near-term support. GBPUSD bulls need to reclaim the 1.2800 level to encourage another technical test of the 1.2840 technical area.
The GBPUSD pair is only bearish while trading below the 1.2720 level, key support is found at the 1.2660 and 1.2515 levels.
If the GBPUSD pair trades above the 1.2720 level, key resistance is found at the 1.2840 and 1.2878 levels.