GBPUSD 1.1410 now key

The British pound needs to start a strong recovery against the US dollar this week to avoid further losses towards the 1.1200 support level. Bulls will attempt to form a double-bottom pattern on the weekly time frame and keep price above the 1.1410 level. GBPUSD sellers will likely target the 1.1200 support level if a breakout below the 1.1410 level takes place this week.

• The GBPUSD pair is only bearish while trading below the 1.1950 level, key support is found at the 1.1480 and 1.1 levels. 

• The GBPUSD pair is only bullish while trading above the 1.1950 level, key resistance is found at the 1.2020 and 1.2200 levels.