Technical analysis:
GBP/USD has been trading upside this morning but I see corrective phase in progress and potential for the further downside continuation.
Due to the strong downside pressure and lack for demand on the rally, I see potential for the further downside continuation.
Downisde objectives are set at the price of 1.2820 and 1.2770
Stochastic oscillator is showing overbought condition, which is sign for the potential downside rotation.
Resistance level is set at the price of 1.2900
