GBPUSD found resistance around the 1.2300-20 zone, which managed so far to keep the downtrend pressure over the market.
However, if prices hold below 1.2375, the downtrend wave will sustain with support at 1.2035-85 which could keep the chance for a rebound correction.
Above 1.2320 more advance will be expected with resistances at 1.2375 and 1.2540.
Below 1.2035 more of a drop toward 1.1805 will be expected.
| SUPPORT | RESISTANCE | |
| LEVEL1 | 1.2195 | 1.2320 |
| LEVEL2 | 1.2035-85 | 1.2375 |
| LEVEL3 | 1.1800 | 1.2540 |
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