The Pound Sterling finds temporary support near 1.2620 against the US Dollar. However, the near-term appeal is uncertain as the GBP/USD pair has slipped below the 20-day and 50-day Exponential Moving Averages (EMAs), which trade around 1.2700 and 1.2670, respectively.
The Cable also declines below the 61.8% Fibonacci retracement support at 1.2667, plotted from the March 8 high of 1.2900 to the April 22 low at 1.2300.
The 14-day Relative Strength Index (RSI) falls back into the 40.00-60.00 range, indicating that the upside momentum has faded.
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