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Technical analysis:
GBP/USD has been trading downside this morning an I found rejection fo the key resistance cluster in the background at 1.2610. I see potential for the further drop.
Due to the strong rejection of the resistance cluster in the background and negative reversals on the RSI oscillator, I see potetnial for the further drop towards lower references.
Downside objectives are set at the price of 1.2528 and 1.2455
RSI oscillator showing bearish reversal, which is good sign for the further downside movement.
Key resistance is set at the price of 1.2610
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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