GBPUSD WEEKLY CHART – MOMENTUM BUILDS ON DOIWNSIDE BREAKDOWN
GBPUSD breakdown below 1.2499 saw a late end-of-the-week nosedive as shifting interest rate cut expectations weighed on it.
Note my post on Friday about EURGBP pressuring GBP down.
As you can see on this chart there is a void of key levels until just above 1.20. This leaves the most recent low as the nearest support.
Resistance starts around 1.2400-10 with a bear bias as long as it trades below 1.2499.