GBPUSD: Continues To Consolidate
As long as 1.2368 resistance holds on a daily closing basis, the GBPUSD remains in a pullback mode and further down could be seen, but downside below 1.2368 should be contained well by the 1.3050 levels.
On the upside, support comes at 1.3050 levels followed by the 1.3115 levels, stability above the 1.3115 levels on a daily closing basis will increase the risk for 1.3213/1.3268 levels. A halt is likely but a break will restore the upside momentum and aim the 1.3362/1.3445 levels, further upside, resistance comes at the 1.3616 levels.
On the downside, below 1.3050 sees further downside pressure to the 1.2895 levels, next support comes at the 1.2800 levels…
Conclusion: The GBPUSD sees consolidation within 1.3050/1.3268 range…
Support: 1.3115, 1.3050, 1.2895, 1.2800
Resistance: 1.3213, 1.3268, 1.3362, 1.3445