GBP/USD: Bears eyeing a break below 1.2700?

After a brief phase of consolidation pre-Tokyo open, the GBP/USD pair resumed the ongoing bearish momentum, with the bears now looking to retest 1.2700 levels.

GBP/USD sold-off near 1.2750

The cable stalled its minor-recovery mode from multi-decade lows near 1.2770 in the last US session, and since then embarked upon a steady declining path amid persistent broad based US dollar strength.

The pound remains unperturbed by a recent streak of bullish UK economic releases, as the main catalyst behind GBP/USD latest downfall remains the Brexit-process timing set by the UK PM May last Sunday. At the time of writing, GBP/USD trades -0.20% lower at 1.2720, retreating from session tops reached at 1.2760 levels.

Amid a lack of relevant macro news from the UK docket, investors await the US jobless claims data due later in the NA session.

GBP/USD Levels to consider            

The pair has an immediate resistance at 1.2772 (Oct 5 high), above which at 1.2800 (key support-turned resistance) and next at 1.2850 (psychological levels). The next key support is seen at 1.2686 (3-decade lows).