GBPUSD: Consolidates With Downside Bias…
as long as 1.2826 resistance holds on a daily closing basis, the GBPUSD remains neutral with risk to the downside. Support comes at 1.2722 level. A cut below support will restore the downside momentum and open 1.2693. A halt is likely, it may test 1.2722/1.2775 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 1.2826 level. Above that level sees recovery threats to 1.2926/1.3029 before another fall. Above 1.3026 will extend the corrective recovery to 1.3150, further upside, resistance comes at 1.3275 level.
Conclusion: The GBPUSD sees downside threats below 1.2826 levels.
Support: 1.2722, 1.2693, 1.2500, 1.2375
Resistance:1.2826, 1.2926, 1.3029 (main), 1.3150