US-China trade war is weighing on many currencies including GBP.
The support rests at 1.20620 with resistance at 1.21640 which both lines are below the weekly pivot point at 1.24270. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA 200 and the EMA of 100. The RSI is moving in oversold area and the Stochastic is moving in middle ranges. The MACD line is above the signal line in the positive territory. The ADX is not showing any clear signals.
GBPUSD may continue its bearish trend towards 1.20400.
