GBP/USD fell to October 2019 lows near 1.2200. Price action is looking somewhat alive at this support. We expect that following the strong sell-off, the pound sterling will be retracing some of the losses.
But, for the near term, price action could remain range-bound. The upper price area at 1.2582 comes into the picture and GBPUSD could hold this corridor for the near term.
