GBP/USD: A breach of 1.2500 looks imminent

The GBP/USD currency pair experienced a significant decline after breaking below the 1.2560 support level, which is the midpoint of a descending regression channel. On the other hand, the psychological level of 1.2500, acting as the lower limit of the descending channel, could serve as the next target for further price depreciation. If daily closing occurs below that level, it may open up opportunities for an extended slide towards the 1.2450 mark