GBP/USD: Negative prospects while below the 1.3150 mark – OCBC

GBP/USD remains heavy, flexing against the 1.30 support. The pair is set to remain under pressure while below 1.3150, economists at OCBC Bank report.

Support at 1.2980-1.30 still looks firm

“The support at 1.2980-1.30 still looks firm. Note that the pair has failed multiple times at 1.2980-1.30 since mid-March.” 

“Underlying prospects still negative for now, and that bias should persist so long as the pair remains below 1.3150.”