$GBPUSD Forecast: Pound could stage downward correction if 1.2000 fails by eren_fxstreet forex trading
, which is already down more than 1% this week, could reverse its direction and weigh on GBP/USD.
It's also worth noting that market participants will keep a close eye on the US Existing Home Sales data for June later in the session. A bigger-than-expected decline could limit the dollar's potential recovery gains and help GBP/USD find demand. GBP/USD trades within a touching distance of 1.2000 . In case this level turns into resistance, additional losses toward 1.1950 and 1.1920 could be witnessed.
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