GBP/USD: Flexing against support level at 1.2250 – OCBC

The GBP/USD pair is flexing against support level at 1.2250 on headline-driven weakness, Terence Wu, an FX strategists at OCBC Bank, informs.

Key quotes

“The GBP/USD is flexing against the 1.2250 support amid negative headlines coming out of the EU-UK Brexit trade talks.”

“Near-term resistance should enter at 1.2300/20, while the first downside target stands at 1.2250. A breach of that level should see further downside towards 1.2200.”