The currency pair declined last week after the Shooting Star candlestick signal. GBP/USD stays below 1,2980.

GBP/USD’s downtrend was provoked by the Bank of England’s meeting and the general USD uptrend. It is to mention that the Bank of England has voted for leading the monetary policy unchanged. However, two MPC members have voted for cutting the Interest Rate.

The currency pair is able to develop its downtrend towards the support at 1,2677. It is recommended holding short positions if you have some.