GBPUSD breaks below major support

Despite relatively low volatility sellers  managed to push the GBPUSD pair below major support at 1.2150, which is marked with previous price reactions and lower limit of the ascending channel. If bears manage to uphold current momentum, downward move may accelerate towards psychological support at 1.2000, which coincides with 200 SMA (red line). On the other hand, if buyers manage to take control, then another upward impulse towards local resistance at 1.2355 may be launched. 

GBPUSD, H4 interval. Source: xStation5

Ahead of the launch of the US session, greenback is one of the top performing currencies among the majors. Besides the pound, significant weakness can be spotted on New Zealand dollar and Russian ruble markets. Source: xStation5