From a technical point of view, on a 30-min chart, GBP/USD is trading within a bearish channel, capped by its declining 50-day moving average (in blue). The daily RSI remains within its selling area. Readers may therefore consider the potential for further weakness below horizontal resistance at 1.3055. The nearest support would be set at 1.2895 and a second one would be set at previous overlap at 1.2845 in extension.
Source: TradingView, GAIN Capital