GBPUSD - Technical Analysis: Friday, 03/03/2017 12:07 GMT

The GBPUSD pair continues to fluctuate at 1.2261 level, and we still waiting a confirmed break to this level to continue declining and visit 76.4% Fibonacci level at 1.2156.

Overall, the bearish trend will remain dominant on the intraday and short term basis supported by the price move inside the descending channel that appears on the chart below, besides that RSI loses the positive momentum gradually, noting that surpassing 1.2430 level will push the price to return to the main bullish trend again and stop the current negative pressure.