The GBP against the dollar continues its occasional movements between the levels 1.2650 and 1.2245 to reach today in the European period for the lower bound, forming its last floor at 1.2250 levels, affected by the negative pressure of the intersection of the 50th minimal arithmetic mean with the average of 200 over the 4-hour time frame .
The continuation of the negative pressure confirms the break of 1.2174 to confirm our negative view targeting 1.2030 represented by 50% correction levels for the upside wave from the bottom 1.1400 to the top of 1.2650.
On the other hand, breaching the 1.2480 levels will stop the current negative pressure and push the price to start recovery attempts targeting the 1.2650 level.
Trading range expected to target 1.2030 by breaking the 1.2173 level
