The British pound currency faces a major week ahead against the US dollar after the pair slumped back towards the 1.2300 support level last week. GBPUSD bears may target the 1.2280 support zone if a breakout below the 1.2300 level takes place this week. To the upside, GBPUSD bulls may target the 1.2400 level if they can break above the 1.2370 resistance barrier today.
The GBPUSD pair is only bearish while trading below the 1.2370 level, key support is found at the 1.2300 and 1.2280 levels.
If the GBPUSD pair moves above the 1.2370 level, key resistance is found at the 1.2410 and 1.2455 levels.
