The currency pair attempted to grow last week, but the reversal signal was broken. The multiyear low was broken and the currency pair developed its decline.

The reason for this decline were Friday’s UK releases on GDP and industrial production. Monthly GDP has slowed down to 0%. Quarterly GDP reached -0,2%. As for industrial production, this indicator declined to -0,2% as well.

The currency pair is able to develop its downtrend. There is a probability that GBP/USD is going to reach the next psychological support at 1,2000.