The GBP/USD pair saw a positive uptick on Monday, gaining over 0.3% after two days of losses. Currently holding steady around the 1.2700 mark in the European session on Tuesday, technical buyers may take charge once this level is confirmed as support.
After a significant drop last Thursday, the GBP/USD pair continued to slide, hitting its lowest point since mid-May near 1.2620 on Friday. However, it managed to stage a correction and was trading above 1.2650 on Monday.
Overall, the Pound Sterling needs to surpass the 1.2700 level to attract more buyers and gain momentum. It will be interesting to see how the pair performs in the coming days.