GBPUSD chart overview

During the Asian session, GBPUSD managed to move up to 1.20600 levels. The pound did not hold for long, and we see a pullback to the 1.20000 level. The chart again shows an increase in bearish pressure. For a bearish option, we need a negative consolidation and pullback below yesterday's low at 1.19350. A break below could lead to a further pullback and descent to lower support levels. Potential lower targets are 1.19000 and 1.18000 levels. For a bullish option, we need a new positive consolidation and a return above the 1.20000 level. Then we need to hold on up there and continue the recovery with a new bullish impulse. Potential higher targets are 1.21000 and 1.22000 levels.