The British pound remains under heavy downside against the greenback, following the recent bearish triangle pattern breakout below. Continued weakness below the 1.2960 level could see the GBPUSD pair falling towards the 1.2840 level, at a minimum. According to medium-term technical analysis, the GBPUSD pair could even test towards the 1.2710 level before recovering.
The GBPUSD pair is only bearish while trading below the 1.2960 level, key support is found at the 1.2840 and 1.2710 levels.
The GBPUSD pair is only bullish while trading above the 1.2960 level, key resistance is found at the 1.3000 and 1.3060 levels.
