The British pound has reversed sharply lower against the US dollar currency, following a third technical rejection from the 1.2660 resistance zone. The GBPUSD pair could fall towards the 1.2500 support level if bears gain control below the 1.2600 level. GBPUSD dip-buyers are likely to be waiting around the 1.2460 to 1.2500 technical area, in anticipation of a recovery towards the 1.2710 level.
If the GBPUSD pair trades above the 1.2610 level, key resistance is found at the 1.2660 and 1.2710 levels.
The GBPUSD pair is only bearish while trading below the 1.2610 level, key support is found at the 1.2550 and 1.2500 levels.