GBP/USD Price Analysis: Despite USD weakness across the board GBP fails to capitalise

• GBP/USD trades -0.27% lower despite the greenback dropping heavily against other majors.
• The price has found some support and 1.2773 has been a good level in the past.

GBP/USD Daily Chart

GBP/USD has been falling in recent sessions despite strong USD weakness.

If the price breaks this current support zone then GBP/USD could move into the next distribution.

Sentiment has been weak ever since the UK said they would be willing to leave the EU without a deal.

There will be constant issues during the negotiations and it's likely we could see some more disruption.

On the support size below the current level the next level on the way down is 1.25. 

On the upside, 1.2970 would prove to be a problem if there is some intraday relief.

Additional Levels