GBP/USD technical analysis: Cable under pressure below 1.2650 as BoE’s Carney speak

• Investors will be listening to Bank of England’s Carney speech at 12.55 GMT.
• Earlier, the Retail Sales Control Group in May beats expectations at 0.5% vs. 0.4% forecast. 
• Coming up next is the Michigan Consumer Sentiment Index at 14.00 GMT.

GBP/USD daily chart

GBP/USD is trading in a bear trend below its main simple moving averages.

GBP/USD 4-hour chart

The market is under pressure below 1.2650 and its main simple moving averages (SMAs). 

GBP/USD 30-minute chart

Bears broke below 1.2650 opening the gates to 1.2600 and 1.2560. Resistance is at 1.2650 and 1.2700 figure.

Additional key levels