The British pound has opened the new trading week on soft footing against the US dollar
, with the pair now slipping closer to the 1.2700 level. If the 1.2700 support level
is breached, GBPUSD
sellers are likely to target towards the important 1.2662 level. Overall, the GBPUSD
pair is vulnerable to heavy technical selling while trading below the pivotal 1.2772 resistance level
pair is heavily bearish
while trading below the 1.2772 level, key support is found at the 1.2700 and 1.2662 levels.
If the GBPUSD
pair trades holds above the 1.2772 level, key intraday resistance is found at the 1.2810 and 1.2830 levels.