GBPUSD chart analysis

During the Asian trading session, the pound struggled not to continue the bearish trend: As the European session began, the pound began to weaken and continued the previous bearish trend. We are now testing the 1.22000 level, which is very close to this year's low of 1.21600. If the dollar index continues to strengthen, the pound could slip closer to the 1,20000 psychological level. For the bullish option, we need a new positive consolidation and a return above the 1.23000 level. After that, we could expect the pound to continue its recovery by forming support at the 1.23000 level. Our potential targets are 1.24000, 1.24500 and 1.25000 levels.