During Friday, the GBP/USD exchange rate tried to surpass the psychological level at 1.2180. During today’s morning, the rate was trading near the 2018/2019 low at the 1.2093 mark.
Note, that the currency pair is pressured by the 55- and 100-hour moving averages, currently located circa 1.2140. Thus, some downside potential could prevail in the market, and the pair could renew the given minimum.
If the given level holds, it is expected, that the rate could trade sideways in the short term. Also, it is unlikely, that bulls could prevail in the market, and the pair could exceed the weekly PP at 1.2212.
