The GBP/USD pair trades in negative territory for the second consecutive day near 1.2715 during the early European session on Monday.
GBP/USD struggles to gain ground around 1.2715 in Monday’s early European session. The pair keeps the negative vibe below the 100-period EMA, with bearish RSI indicator on the 4-hour chart. The first downside target is seen in the 1.2700–1.2701 zone; the next upside barrier is located at 1.2795. The stronger US Dollar broadly drags the major pair lower.
2710 region will pave the way to 1.2681, a low of May 30. Further south, the next contention level is seen at 1.2645, a low of May 17, followed by the 1.2600 round mark. The major pair should resume the upside if it crosses above the 100-period EMA at 1.2723. The next upside barrier for GBP/USD will emerge at 1.2795, a low of June 5. Any follow-through buying will expose 1.2809, a high of June 6, and finally the upper boundary of the Bollinger Band at 1.2831.
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