Sterling Inches Higher To 1.2643, But Gives Back Gains
![gbpusd](https://assets.iorbex.com/blog/wp-content/uploads/2020/07/17214027/GBPUSD-1007-750x430.png)
The British pound sterling managed to steadily rise towards the resistance level of 1.2643 on Thursday.
But price action failed to breakout any higher, leading to a bearish candlestick on the four-hour chart.
If this trend continues, we expect to see GBPUSD closing lower into the weekend.
The support area near 1.2516 remains the immediate downside target that might keep a hold on the declines for the moment.