GBP/USD (a 4-hour chart)
A stronger dollar weighed on the pound which is still weak amid the Brexit concerns.
Sellers continued to dominate on Wednesday. Traders approached the support 1.2400 overnight and broke below it with
The MACD histogram decreased which indicates the sellers’ strength. The RSI oscillator moved downwards.
If the GBP/USD pair consolidates below 1.2400 we expect its further extension towards 1.2300.