The British pound started the new trading week under pressure against the US dollar, with the pair slipping below the 1.2450 support region. GBPUSD bears may start to target the 1.2385 support level if they can continue to hold price under the 1.2450 level. Buyers need to move the GBPUSD pair back above the 1.2510 level to encourage an attack towards the current monthly trading high.
The GBPUSD pair is only bearish while trading below the 1.2500 level, key support remains at the 1.2385 and 1.2425 levels.
If the GBPUSD pair trades above the 1.2500 level, key resistance is found at the 1.2580 and 1.2610 levels.
