The GBP/USD pair trades with a negative bias for the second straight day on Friday, albeit manages to hold its neck above the previous day's swing low.
GBP/USD remains under some selling pressure on Friday, though lacks follow-through. The uncertainty over the Fed ’s rate-cut path should cap the USD and offer support. The mixed technical setup further warrants caution before placing directional bets. The GBP/USD pair trades with a negative bias for the second straight day on Friday, albeit manages to hold its neck above the previous day's swing low. Spot prices currently hover around the mid-1.
Hence, any further decline is likely to find decent support near the 1.2755-1.2750 horizontal zone, below which the GBP/USD pair could slide to the 1.2715-1.2710 region. The downfall could extend further towards the 1.2690-1.2685 region en route to the 100-day Simple Moving Average , currently near the 1.2640-1.2635 area. A convincing break below the latter will mark a bearish breakdown and pave the way for deeper losses.
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