GBPUSD 1.2150 key support

The British pound currency faces a critical week against the US dollar after the pair suffered a heavy sell-off last week. GBPUSD bulls may look to enter around the 1.2150  support level this week if a decline below the 1.2200 technical area takes place. Looking at the downside, GBPUSD bears may look to target the 1.1950 level if the 1.2150 support level is breached with conviction.

• 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.