GBPUSD The downtrend is clearly formed through charts and news

The British pound initially attempted to recover during the week, but gave up gains near the crucial 1.2350 level. At this point, GBP is likely to remain under downward pressure and could fall to the 1.1850 level. Looking ahead, we believe the 1.2350 level will be an important resistance barrier, and if we manage to break below the 1.20 level, it will actually pave the way for the 1.1850 level. Of all the major currencies, the US dollar makes the most sense at the moment.