GBPUSD retains downside pressure in the short term following its recent weakness. Support lies at 1.2550 as it looks for more weakness. Below that level will turn attention to the 1.2500 level. Further down, support comes in at the 1.2450 level where a break will turn focus to the 1.2400 level. Further down, support lies at the 1.2350 level. On the upside, resistance stands at the 1.2650 with a turn above here allowing for additional strength to build up towards the 1.2700 level. Further out, resistance stands at the 1.2700 level followed by the 1.2750 level. On the whole, GBPUSD retains downside pressure in the short term.
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