The GBPUSD pair keeps on trade below the 100-hour Moving Average, presently seen at 1.2677. So long as sellers keep price underneath that level, the near term bias stays bearish. In fact, pair is nearing near-term support around 1.2648 and light offers around 1.2655. That will be followed by further support at 1.2606.

On the flip side, the risk for sellers lies in the 200-hour Moving Average at 1.2710 followed by resistance at 1.2742.

EU leaders meet in Brussels later today to talk about the top tasks after the elections. Outgoing PM May will be there too, yet Brexit is low on the plan. Still, she may comment on the present situation and move markets in spite of being headed out. Also, comments from US President Trump may move markets.

Rose Alice

About: Rose Alice

Rose Alice has a long experience as a currency analyst with a deep knowledge of the relationship between macroeconomics and currencies fluctuation.