The British pound has fallen to a new monthly trading low against the US dollar during the European trading session due to ongoing United Kingdom political uncertainty. If sellers can hold price under the 1.2660 level the GBPUSD is likely to decline towards the 1.2610 support level. Overall, the 1.2550 level offers the strongest form of technical support for the GBPUSD pair.
The GBPUSD pair is heavily bearish while trading below the 1.2660 level, key support is located at the 1.2610 and 1.2550 levels.
If the GBPUSD pair trades above the 1.2660 level, key intraday resistance is found at the 1.2690 and 1.2710 levels.
