This pair has been unable to break above the 1.2500 mark, furthermore, the UK is still experiencing uncertainty regarding various trade details and discussions with the E.U. This uncertainty may worry investors, and thus I am bearish on the pound.

GBP/USD Daily chatt

Price has come off MM3, with a bearish target of MM1. It has also come off the 61.8 bearish fib retracement level. Price could not break above 1.2500 yesterday, and I believe it will test the 1.24500 level as resistance to today.

GBP/USD H4 chart

Price has double topped at WM3, also creating a lower low, with a bearish target at WM1. This is also the 61.8 fib retracement level. I will look for a pull back to WPP which is also 1.24500 psyche level for entry.

GBP/USD H1 chart

Price has opened at DM3, thus with target of DM1. As shown before, I will look for a pull back to DPP, which is also WPP, and is the 1.24500 psyche level, for entry.

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