GBPUSD declines more on price extension following its recent bear pressure. Support lies at 1.2500 as it looks for more weakness. Below that level will turn attention to the 1.2450 level. Further down, support comes in at the 1.2400 level where a break will turn focus to the 1.2350 level. Further down, support lies at the 1.2300 level. On the upside, resistance stands at the 1.2600 with a turn above here allowing for additional strength to build up towards the 1.2650 level. Further out, resistance stands at the 1.2700 level followed by the 1.2750 level. On the whole, GBPUSD declines more on price extension following its recent weakness.
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