Ella 
GBP/USD remains flat around 1.2500, close to three-month lows hit on Wednesday
On the 1-hour chart, the pair remains above the 50 and 100 hourly EMAs
The first support level is at 1.2465; the short-term resistance level is at 1.2515
In Asia on Thursday, GBP/USD consolidated its recent decline around 1.2500. Meanwhile, the U.S. dollar index , which measures the greenback against six major values, hovered around 104.80 after retreating from its highest level since March. The dollar strengthened thanks to an upbeat U.S. ISM services PMI, which improved to a six-month high of 54.5 in August.
On the other hand, dovish comments from Bank of England Governor Bailey weighed on the pound on Wednesday. He said the Bank of England was close to ending its rate hike cycle.
From a technical point of view, GBP/USD is holding below the falling 50 and 100 EMAs on the 1-hour chart, which suggests a bearish outlook for the pound. Meanwhile, the RSI is below 50, in bearish territory, suggesting that the bears may regain control in the near term.
If it falls below the bottom of the Bollinger Channel at 1.2465, the pound will challenge the next support levels of 1.2440 (low on May 12), 1.2390 (low on June 6), and 1.2350 (low on May 31).
On the upside, the middle track of the Bollinger Band is at 1.2515, which acts as a short-term resistance level. Further overhead resistance lies at 1.2545 (50 hour EMA). Further above, the 1.2565-2575 area appears to be a strong hurdle for GBP bears. The above level represents the upper band of the Bollinger Band and the 100 hourly EMA. The next hurdle is near the psychological round number of 1.2600.
