The GBP/USD is bearish. We should see a new momentum down if the price makes a close below 1.2190.
The GBP/USD is in a ranging mode on an intra-week time frame, but we can see that bears are still dominating. I expected a drop from the 1.2220-50 zone and a drop is still possible on any pullback as the GBP is weak and the trend is still down. However, a close below 1.2192 is needed and we should see 1.2143, 1.2089 and 1.2007.
Many green pips,
Nenad Kerkez aka Tarantula FX