GBPUSD 1.2300 possible
The British pound has fallen below the 1.2400 level against the US dollar after weekly jobless claims from the US economy saw a significant increase. It is now possible that the GBPUSD pair could test towards the 1.2200 technical area over the short-term. A loss of the 1.2200 level could provoke an even stronger decline in the GBPUSD pair towards the 1.2150 technical support area.
The GBPUSD pair is only bearish while trading below the 1.2300 level, key support is found at the 1.2200 and 1.2150 levels.
The GBPUSD pair is only bullish while trading above the 1.2300 level, key resistance is found at the 1.2500 and 1.2610 levels.