GBP/USD Approaches Extended Target

The GBP/USD price is trying to surpass the support of the descending channel, reinforcing expectations of the continuation of the bearish trend for the rest of the day, which targets testing the $1.2566 level as a next stop, noting that breaking this level will push the price towards $1.2480 as a next negative target, while the expected decline will remain in place unless the price rushes to breach the $1.2735 level and stabilizes above it.

Pivot Line : 1.2735
Resistance Line : 1.2800 , 12840 , 1.2931
Support Line : 1.2566 , 1.2480 , 1.24037

Today's price forecast: Low