GBPUSD major week ahead

The British pound currency faces a major week ahead against the US dollar after the pair slumped back towards the 1.2300 support level last week. GBPUSD bears may target the 1.2280 support zone if a breakout below the 1.2300 level takes place this week. To the upside, GBPUSD bulls may target the 1.2400 level if they can break above the 1.2370 resistance barrier today. 

• The GBPUSD pair is only bearish while trading below the 1.2370 level, key support is found at the 1.2300 and 1.2280 levels.

• If the GBPUSD pair moves above the 1.2370 level, key resistance is found at the 1.2410 and 1.2455 levels.