The GBP/USD pair is experiencing a bearish trend as it approaches the important support level of 1.2700. In the European session on Monday, the pair continues to decline, showing signs of bearish momentum in the near term.
The chart analysis indicates that the potential support level for GBP/USD is above 1.2700. This suggests that the pair may find some stability around this area before potentially making any significant moves.
Overall, the outlook for GBP/USD remains bearish as it trades lower towards the key support level. Traders and investors will be closely monitoring the pair’s movement in the coming sessions to gauge whether it will break below 1.2700 or find support around this level.