The British pound remains in the doldrums against the US dollar on Tuesday as the pair continues to meet fresh waves of selling around the 1.2500 resistance area. The GBPUSD pair could fall sharply if the 1.2440 support level is broken over the coming sessions. To the upside, bulls need to move price above the 1.2660 level to change the negative technical bias towards the pair.
The GBPUSD pair is only bullish while trading above the 1.2510 level, key resistance is located at the 1.2530 and 1.2560 levels.
If the GBPUSD pair holds below the 1.2510 level, key support is found at the 1.2440 and 1.2410 levels.
