• GBP/USD drops to 1.2458 and puts the 200-day Moving Average at 1.2424 in focus.
• Short-term outlook shows the pair eyeing the week’s low at 1.2455, with a breach potentially targeting the S2 daily pivot at 1.2413.
• A reclaim of the 1.2500 level could signal a bullish reversal, with the next resistance at the 200-hour Moving Average at 1.2593.

The Pound Sterling (GBP) extended its free fall for four straight days versus the US Dollar (USD) due to high US bond yields underpinning the Greenback. The GBP/USD is trading at 1.2458 after hitting a daily high of 1.2514, as sellers set their sights on technical support to prolong their profits