Technical analysis:
GBP/USD has been trading sideways downside at the price of $1.2800 and I see potential for the further downside movement. Sellers are in control
Due to the short-term downside trend and no aggressive buyers, I see potential for the further drop towards lower references.
Downside objective is set at the price of 1.2693
Stochastic oscillator is showing downside flip, which is good sign for the further downside movement.
Resistance is set at the price of 1.2890