The British pound has opened the new trading day below the 1.2300 level against the US dollar as United Kingdom political risks weigh on sterling. The immediate risk is a possible decline towards the 1.2250 level, while the current yearly low could come into focus if British PM Boris Johnson is ousted in UK Parliament. Only a sustained rally above the 1.2360 level will change the intraday sentiment towards the GBPUSD pair.
The GBPUSD pair is bearish while trading below the 1.2360 level, key support is found at the 1.2250 and 1.2100 levels.
If the GBPUSD pair trades above the 1.2360 level, key resistance is found at the 1.2410 and 1.2470 levels.
