GBP/USD: correction going to move on
The main trend is still bearish. The price is consolidating between a support at 1.2113 and a resistance at 1.2198. So, the market is likely going to decline towards a support at 1.2081. If we see a pullback from this level, there’ll be an option to have an upward movement in the direction of the nearest resistance at 1.2198 – 1.2227.
There’s a consolidation, which is taking place above a support at 1.2113. Considering a resistance at 1.2198, bears are likely gong to test a support at 1.2106 – 1.2081 during the day. If a pullback from this area be on the table, bulls will have a chance to test a resistance at 1.2219.