The British pound remains technically weak against the US dollar as bulls continue to struggle to overcome the 1.2080 resistance area. If GBPUSD bulls can overcome this area and launch an attack towards the 1.2200 area, a bullish reversal pattern may form. Overall, the GBPUSD pair still remains vulnerable to a major test of demand below the 1.2000 support level.
The GBPUSD pair is bearish while trading below 1.2080, key support is found at the 1.2020 and 1.1980 levels.
If the GBPUSD pair trades above the 1.2080 level, buyers may test towards the 1.2160 and 1.2200 levels.