GBP/USD Technical Analysis: Fest bearish drop to 1.2770 ahead of the London opening

• The GBP/USD pair is seeing a quick drop into the 1.2775 region as the European continent begins to come online, and early trades are suggesting that the US Dollar could be popular today.
• Brexit excitement aside, the Cable is primed for an intraday drop after posting a lower swing high on the intraday, clipping into 1.2820 before declining in fresh Greenback bidding.

GBP/USD Chart, 5-Minute

• Brexit tensions have kept the Cable in a volatile, trendless range since mid-November, but new Dollar bidding could send the GBP/USD into new lows at the 1.2700 region if selling power continues.

GBP/USD Chart, 30-Minute

• Over the past month and a half, the Cable has found itself constrained within a tightening sideways triangle, and a break low will see GBP bears primed for a continued slide beyond October's lows at the 1.2700 handle.

GBP/USD Chart, 4-Hour