GBPUSD Faces Further Corrective Downside Pressure
GBPUSD looks to weaken further as it retains its pullback threats. Support lies at 1.2800 area with a break below that level turning focus to the 1.2750 level. Further down, support comes in the 1.2700 level where a violation will shift focus to the 1.2650 level. Below here will open the door towards the 1.2600 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance is located at the 1.2900 with a break above there allowing for morel strength to build up towards the 1.2950 level. Further out, resistance stands at the 1.3000 level followed by the 1.3050 level. On the whole, GBPUSD retains its downside pressure on correction.
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