GBP/USD Technical Analysis: Tumbling into 1.2950 as bears get brave, downside channel holding

• The past twenty-four hours have seen the GBP/USD trading into the basement after slipping from yesterday's peak of 1.3090 in a last-ditch attempt to recover the 1.3100 major handle, but the Sterling couldn't find the bullish drive as Brexit headlines continue to erode investor confidence in the Pound, and the Cable is now accelerating its bearish momentum.
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GBP/USD, M5

• The previous trading week sees the Cable maintaining downside momentum, clipping steadily down beneath a descending trendline, and GBP/USD buyers are moving out of the way as shortsellers push the pair into 1.2950.

GBP/USD, M30

• Looking back over the past month, the Cable is threatening to fall out the bottom side of a declining channel, but support threatens the current downside move from 2018's technical bottom at 1.2922.

GBP/USD, H4