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The GBP/USD will extend the losses from the weekly high at 1.2687 to the third eye in the row.

GBP/USD: Pair Mildly Goes Below 1.2600 on BOE

It will trim the intraday losses while rising the 1.2555 ahead of the Thursday. The cable gains the attribute and recovers the risk sentiments due to the US-China trade talks.

Moreover, as the result of the US 10 year treasury will stay back to 0.70% with Asian stock.

The pair portrays a head-and-shoulders formation on the four-hour chart that needs validation from an ascending trend line from May 17, at 1.2460 now. Meanwhile,  an upside clearance of the pair’s weekly top surrounding 1.2688 will pour cold water on the face of the said technical play.

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Jeffrey Halley

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