GBPUSD Showing bearish pressure

GBPUSD

GBPUSD is showing bearish pressure. The pair has been declining from highs amidst political developments and Dovish BOE decisions. The 4hr trend line which was being used as support has failed to maintain and buyers seem to be struggling to rise above. Full bearish momentum has not been confirmed as yet as price is still trading above the 50 SMA. Support awaits at 1.2660, which provided support in mid-June. It is closely followed by 1.2640 which was a swing low earlier this month.