The currency pair declined last week and tested the support at 1,2140. GBP/USD stays close to its lows due to the hard Brexit. GBP/USD is under the pressure due to the stronger US economics. US dollar goes upwards despite the US Presidents wishes to make USD weaker.

GBP/USD is close to the support at 1,2140. We advise to take firster steps depending on signals. If there is a breakdown with a confirmation, traders can open short positions. Otherwise, in case of reverse signals, it is better to open long positions.