The British pound currency faces a critical week against the US dollar after the pair suffered a heavy sell-off last week. GBPUSD bulls may look to enter around the 1.2150 support level this week if a decline below the 1.2200 technical area takes place. Looking at the downside, GBPUSD bears may look to target the 1.1950 level if the 1.2150 support level is breached with conviction.
The GBPUSD pair is only bearish while trading below the 1.2300 level, key support is found at the 1.2200 and 1.2150 levels.
The GBPUSD pair is only bullish while trading above the 1.2300 level, key resistance is found at the 1.2500 and 1.2610 levels.
