During the Asian session, the GBP/USD pair is growing, remaining near 1.2530, against macroeconomic statistics from the UK.

The GBP/USD pair is testing 1.2480 for a breakdown, developing the "bearish" impetus formed the day before, in the absence of support from macroeconomic statistics from the US and UK.

A fall is possible.

On the daily chart, the upward first wave of the higher level (1) formed, and a downward correction develops as the second wave (2). Now, the wave C of (2) is developing, within which the first wave of the lower level i of C has ended, and a local correction is ending as the second wave ii of C. If the assumption is correct, the GBP/USD pair will fall to the area of 1.2077–1.1742. In this scenario, critical stop loss level is 1.2892.

During the Asian session, the GBP/USD pair showed flat trading near the 1.2545 mark after growth last week against positive British macroeconomic statistics.

The GBP/USD pair has been moving within a downward channel for the second month: last week, the price reached its lower border, corrected upwards, and is now trading at 1.2550.