GBP / USD returned to last week’s low to 1.2640 (trough to 1.2634). I believe that 1.2634 should hold a few more days, but a fall below is likely.
Any new weakness should find a solid support towards the 1.2560, before 1.2515.
In other words, GBP / USD becomes bearish with an immediate target at 1.2560, then 1.2515.
In view of oversold conditions in the short term, new sellers should expect better levels towards 1.2735 / 40 with stops above 1.2820.
I’m short at 1.2723