The British pound currency appears increasingly weak against the US dollar as traders continue to sell any short-term rallies in the pair. Continued failure around the 1.2400 area may result in further losses for the GBPUSD pair towards the 1.2300 technical regions. Overall, GBPUSD bears may be targeting the 1.2200 level as a potential downside target for the pair this week.
The GBPUSD pair is only bullish while trading above the 1.2455 level, key resistance is found at the 1.2510 and 1.2550 levels.
The GBPUSD pair is only bearish while trading below the 1.2455 level, key support is found at the 1.2360 and 1.2300 levels.
