Technical analysis:
GBP/USD has been trading downside yesterday and I found breakout of the rising trend-line, which is good sign for the further downside movement.
Due to the breakout of the rising trend-line and strong downside momentum, I see potential for the further drop after the upside correction.
Downside objective is set at the price of 1.2500
MACD oscillator is showing strong downside reading, which is good confirmation for the further downside movement.
Short-term resistance is set at the price of 1.2690