Technical analysis:
GBP/USD has been trading sideways at the price of 1.1985 and there is potential for the breakout mode.
Due to the descending triangle in creation, I see potential for the downside breakout.
In case of the breakout of the support zone at 1.1925, there is potential for the drop towards the downside reference at 1.1645.
Stochastic and MACD oscillators are still showing downside reading, which is good sign for the further downside movement.
Key resistance is set at the price of 1.2140
