The British pound has fallen sharply lower against the US dollar currency during the European trading session, as market sentiment turns heavily negative intraday. Traders may now target the 1.2800 level, following yet another failure above the 1.3000 handles. GBPUSD bears could target the 1.2500 support region if the 1.2800 support level is broken over the coming days.
If the GBPUSD pair trades above the 1.3000 level, key resistance is found at the 1.3060 and 1.3160 levels.
The GBPUSD pair is only bearish while trading below the 1.3000 level, key support is found at the 1.2800 and 1.2500 levels.
