The British pound has reversed back towards 1.2700 level against the US dollar
after briefing spiking above the 1.2800 after reports that the UK may hold a second Brexit referendum. The GBPUSD
pair has a bearish
intraday bias while trading below the 1.2756 level and may remain weak due to uncertainty over the European elections. Technical indicators on the four-hour time frame still suggest that the GBPUSD
pair can trade lower.
pair is bearish
while trading below the 1.2756 level, key support is located at the 1.2690 and 1.2660 levels.
If the GBPUSD
pair trades above the 1.2756 level, key intraday resistance is found at the 1.2772 and 1.2810 levels.