GBPUSD STERLING ON THE DEFENSIVE BELOW 1.2700
The British pound continues to trade to the downside against the US dollar on Friday, after being strongly rejected from the 1.2750 level. The GBPUSD pair is likely to weaken further if the 1.2700 support level is broken during the last trading session of the week. The sentiment towards the British pound remains weak today after reports surfaced that UK Conservative party are taking extra steps to prepare for a Brexit no-deal scenario.
The GBPUSD pair is bearish while trading below the 1.2700 level, key support is found at the 1.2665 and 1.2610 levels.
If the GBPUSD pair moves above the 1.2750 level, key intraday resistance is found at the 1.2800 and 1.2830 levels.