GBPUSD is testing global support and key Fibo level. A false breakout is forming and most likely a correction may follow before a further decline on the background of a stronger dollar.
TA on the high timeframe: 1) False break-down of the strong level (May) 1.26525. 2) Price consolidation below resistance will form a good entry point for a short position 3) The price breaks the trend amid dollar strengthening
TA on a low timeframe: 1) False break of support at 1.26248. The price is testing the Fibo level of 0.382, most likely, a bounce to resistance may follow from this area 2) The price may make a false-break-down from the resistance area and go downward again. 3) The resistance area is rather wide, watch out for 1.26989, 0.236 Fibo and the previously broken channel line