The pair is still showing weakness on the mid and short-term basis, and a bearish trend line projected on the H1 chart is supporting this scenario. Currently, GBP/USD is struggling to break the support level of 1.2179, which should open the doors to test a key area around the 1.2112 level. If a bearish consolidation happens below that zone, then we can expect another fall below the 1.20 handle.
H1 chart's resistance levels: 1.2229 / 1.2312
H1 chart's support levels: 1.2179 / 1.2112
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the GBP/USD pair breaks a bearish candlestick; the support level is at 1.2179, take profit is at 1.2112 and stop loss is at 1.2239.
