GBP/USD technical analysis

The pair succeeded in reaching a target of $1.2250, as mentioned in yesterday’s analysis, after breaking through the $1.2400 support. The pair is now testing at $1.2400 and we expect it to bounce back down and fall to $1.2250, then $1.2170 levels. The resistance is $1.2400. If successful in breaking through, the pair may target the $1.2500 level.