GBPUSD selling preferred

The British pound has slipped below the 1.2900 level against the US dollar as bearish Brexit news weighs on the pairs trading sentiment. Selling any moves above the 1.2900 resistance level is now the preferred intraday strategy when trading the GBPUSD pair. More cautious traders may weight for a sustained breakout below the 1.2850 support level to initiate a GBPUSD short position.

• If the GBPUSD pair trades above the 1.2850 level, key resistance is found at the 1.2900 and 1.2950 levels.
• If the GBPUSD pair trades below the 1.2850 level, key support is found at the 1.2720 and 1.2500 levels