The pair is looking for further weakness during this week, as we already seen a bearish consolidation below the 200 SMA on H1 chart. Currently, GBP/USD is finding demand around the 1.2308 level across the board and that should produce some corrective moves before to resume the downside. If we see a breakout below that area, then we can expect a decline towards the 1.2254 level, while a breakout higher at the 1.2427 area, then it can rally to the 1.2516 level.
H1 chart's resistance levels: 1.2427 / 1.2516
H1 chart's support levels: 1.2306 / 1.2254
Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.2427, take profit is at 1.2516 and stop loss is at 1.2340.
