By the middle of Friday’s trading session the GBP/USD had continued to decline until it reached the support provided by a pivot point at the 1.2565 level. The rate bounced off this support.
In the near future, it is expected that the rate will continue to decline, as a downwards trend can be observed during the last couple of days. If the rate passes the 1.2565 level, it should plummet down to 1.2470 level.
Although, take into account that Brexit talks rule over technical analysis and any announcement can cause a sudden surge upwards or be the initiator for a decline down to the 1.2470 mark.
