GBPUSD Weakens On Further Bear Pressure Towards 1.2720 Zone

GBP/USD weakens on further bear pressure following its Wednesday losses. Support sits at 1.2750 level. Further down, support comes in at the 1.2700 level where a break will turn focus to the 1.2650 level. Further down, support lies at the 1.2600 level. Below here will set the stage for more weakness towards the 1.2550 level. On the upside, resistance stands at the 1.2850 with a turn above here allowing for additional strength to build up towards the 1.2900 level. Further out, resistance stands at the 1.2950 level followed by the 1.3000 level. On the whole, GBP/USD faces further downside pressure on more weakness.

GBP/USD, Daily Chart

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