The GBPUSD failed to continue its bullish momentum yesterday bottomed at 1.2149. The bias is neutral in nearest term. Immediate resistance is seen around 1.2205. A clear break above that area could trigger further bullish pressure testing 1.2250 area or higher. Immediate support is seen around 1.2135 followed by 1.2080 but key support remains at 1.2000. Overall I remain bearish but as long as stay above 1.2000 the hammer formation bullish correction/reversal scenario should remain valid.