Lack of new Brexit headlines keeps the Pound trading within the range under 1.2800 level, the pair continues under pressure and downside potential increase when the pair break below support level around 1.2720 handles.
Brexit uncertainties have weighed in on GBP/Usd, the pair has extended its consolidation movement to the lower ground, mid 1.2700's. While the pair remains bearish, the downside seems capped to 1.2700 level.
Lots of volatility on the GBPUSD during the last few days with no clear direction. The GBPUSD is actually stuck between the 1.2800 level and the 1.2694-1.2660 zone acting as support. Above the 1.2800 level, its next resistance could be the 55 day EMA at the 1.2900 level.
The volatility continues on the GBPUSD on the daily chart, with a good support at the 1.2660 level. To the upside, the 1.2800 level is acting as resistance. The volatility may continue until the Brexit issue is resolved.