GBP/USD Technical Analysis: further selling on the cards as 1.2800 begins to weaken

• The GBP/USD collapsed over the last twenty-four hours, tumbling back into the 1.2800 region and early Friday trading sees the Cable trapped near Thursday's closing prices, and bears are set to step back in and renew downside pressure on the pair.
• GBP/USD Forecast: Sterling off October lows as 1.2790 target remains intact in a Brexit stalemate

GBP/USD, M5

The past week showcases the Cable's downside trend, with the pair testing to the bottom end of a firm bearish channel as sellers routinely step in and force the Sterling lower as Brexit headlines continue to disappoint markets.

GBP/USD, M30

The past six weeks see the Cable struggling to get upcycles into higher territory, with early October's bullish pullback stalling out at familiar levels just above the 1.3200 major handle, and bearish moves are becoming increasingly more aggressive as the Pound moves into fresh lows.

GBP/USD, H4