The British pound has moved sharply lower against the US dollar during the European trading session, following a strong technical rejection from trendline resistance. The GBPUSD pair is now probing support from the well-defined triangle pattern across the lower time frames. A sustained breach of key trendline support could trigger losses towards the November trading low.
The GBPUSD pair is strongly bearish while trading below the 1.2750 level, key technical support is found at the 1.2695 and 1.2662 levels.
If the GBPUSD pair trades above the 1.2800 level, key resistance is now found at the 1.2830 and 1.2855 levels
