Right now, the GBPUSD pair is facing a major test at the 1.2673 support level. Should it break below this key point, we could potentially witness a further downside trajectory, heading towards the next support level pegged at 1.2610. If the pair continues its decline, the 1.2550 area stands as the next target.
Looking in the other direction, an initial resistance cap has formed at the 1.2785 mark. Overcoming this level could prompt the pair to advance towards the 1.2827 resistance level. A successful surge above this will point the compass towards the notable 1.3000 area.
