The GBP/USD pair experienced a 0.5% loss on Wednesday, dropping to its lowest level in over a month below 1.2620. Despite a slight technical correction towards 1.2650 on Thursday, the outlook for the pair does not suggest a significant rebound.
After testing 1.2700 on Tuesday following a rebound on Monday, GBP/USD was unable to break through this strong resistance level. The pair remained under slight bearish pressure on Wednesday, with the possibility of further decline if the 1.2640 support is breached.