GBPUSD: Consolidates With Downside Bias…
as long as 1.2882/1.3026 resistance holds on a daily closing basis, the GBPUSD remains neutral with risk to the downside. Support comes at 1.2775 level. A cut below support will restore the downside momentum and open 1.2693. A halt is likely, it may test 1.2775 before attempts another fall. However; below 1.2693 aims 1.2590 level, further down, support comes at 1.2480 level.
On the upside, resistance comes at 1.2882/1.2926 level. Above that level sees recovery threats to 1.3029 before another fall. If this fails to happen, the pair will extend the corrective recovery to 1.3150, further upside, resistance comes at 1.3275 level.
Conclusion: The GBPUSD sees downside threats below 1.2882/1.2926 levels.
Support: 1.2818, 1.2775, 1.2693, 1.2590, 1.2480
Resistance: 1.2882, 1.2926, 1.3029 (main), 1.3150