The GBP/USD pair has sharply declined, testing a bullish correctional trend line traced from recent swing lows. Despite breaking short-term supports near 1.2640, the pair still hovers above key trend line support, signaling that bullish momentum is under pressure but not fully lost. Technical indicators like RSI and MACD point to bearish momentum with potential for a near-term rebound if support holds. Fundamentally, a stronger US Dollar driven by robust US economic data and cautious UK economic sentiment underpin the decline. Key levels to watch include support at 1.2600 and resistance near 1.2720. Traders should monitor if GBP/USD can sustain above the trend line or if further downside towards 1.2550 is likely. For a detailed technical and fundamental breakdown, explore the full analysis by Economies.com.