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  • GBP/USD is under heavy bearish pressure near 6-week lows.  
  • The level to beat for sellers is the 1.2100 figure. 

GBP/USD daily chart

GBP/USD is trading below the main SMAs on the daily chart suggesting a bearish bias as the market is under heavy selling pressure in 6-week lows. 

GBP/USD four-hour chart

GBP/USD is trading down below its main SMAs on the four-hour chart as the bears are nearing the 1.2100 figure. Sellers remain in full control of GBP/USD which is seen keeping printing lower prices and reach the 1.2100 and 1.1950 levels in the medium-term. Occasional bullish attempts could find resistance near 1.2200 and 1.2300 levels. 
Resistance: 1.2200, 1.2300, 1.2400
Support: 1.2100, 1.1950, 1.1900

Additional key levels