GBPUSD H1: Bearish outlook seen, further downside below 1.2230
On the H1 time frame, prices are facing bearish pressure from the resistance zone at 1.2230, in line with the 38.2% Fibonacci retracement and a pullback to this resistance zone presents an opportunity to play the drop to the support target at 1.2110. Stochastics is testing resistance at 95.66 as well where we could see further downside, in line with prices.