GBP/USD Daily Forecast – Support At 1.2170 In Sight

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GBP/USD has settled near the first material support level at 1.2170. If this level is breached to the downside, GBP/USD will likely gain additional downside momentum and head towards the next support level at the recent lows at 1.2080. In this scenario, GBP/USD should have better chances to get below the support at 1.2080. In case it happens, the pair will likely decline further towards 1.2000. I’d note that GBP/USD has recently failed to settle above the key resistance level at 1.2250 and confirmed the existing downside trend. As long as GBP/USD stays below 1.2250 ...