Key levels to watch for:
Support: 1.2150;
Resistance: 1.2360; 1.2516; 1.2700.
The GBPUSD continues dropping below the 1.2200 level, it could try to reach the 1.2100 level, but a pullback above the 1.2200 level is possible.
Pound enter consolidation mood while still within negative territory ahead of Article 50 to be triggered, downside seems capped around 1.2130 level, and upside 1.22 is key resistance level.
Yeah but only for short-period time. As Brexit will spin off we will probably see Pound renewing historical lows.
Last week's strengthening of the pound led the GBP / USD to 1.2400, which is just slightly below the simple moving averages for 50 and 100 days. The gain may slow next week, but if GBP / USD breaks above 1.2400 on Monday, it may reach 1.25.