GBPUSD Outlook 18/08/2022

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From a technical perspective, spot prices now look to the monthly low, around the 1.2000 psychological mark, to offer some support. Bearish traders might need to wait for a convincing break below the said handle before positioning for any further losses. The GBP/USD pair might then accelerate the fall towards the 1.1965-1.1960 intermediate support en route to the 1.1915 region and the 1.1900 round-figure mark. Some follow-through selling would make the pair vulnerable and expose the recent daily closing lows support near the 1.1820 area.