Technical analysis:
GBP/USD has been trading downside as I expected but the price is near the key support cluster at the 1.2050.
Due to the strong support and potential exhaustion condition on the downside, there is potential for the upside correction towards upside reference.
Upside objective is set at 1.2110
Key support is set at the price of 1.2050
In case of the downside breakout of the 1.2050, downside objective is set at 1.201