The pair dropped to the lower edge of the range due to the weaker GBP, which is caused by domestic issues in the UK. The USD’s overall uptrend in currency markets also negatively affects the pair.
The price is below the middle Bollinger band, below SMA 5 and SMA 14. Moving Averages suggest selling. RSI is below the level of 50% and is falling. Stoch are within the oversold territory and aren’t informative.
Sell the pair when its breaks through the level of 1.2665 with a possible local target of 1.2615.