GBPUSD: The pair continues to threaten further downside pressure after declining on Monday. On the downside, support lies at the 1.2800 level where a break will turn attention to the 1.2750 level. Further down, support lies at the 1.2700 level. Below here will set the stage for more weakness towards the 1.2650 level. Conversely, resistance stands at the 1.2900 levels with a turn above here allowing more strength to build up towards the 1.2950 level. Further out, resistance resides at the 1.3000 level followed by the 1.3050 level. On the whole, GBPUSD threatens further downside pressure.