The British pound has moved extremely close to the current 2019 trading low against the US dollar, as the chances of a UK General Election battle increase. A break below the 1.2020 level exposes further GBPUSD downside towards the 1.1980 technical level. Overall, the latest break below the 1.2100 level is extremely bearish for GBPUSD pair from a medium-term perspective.
The GBPUSD pair is heavily bearish while trading below the 1.2100, key support is found at the 1.2020 and 1.1980 levels.
If the GBPUSD pair trades above the 1.2100 level, key resistance is found at the 1.2155 and 1.2200 levels.