The GBPUSD had another indecisive movement last week. The bias is neutral in nearest term. Immediate resistance is seen around 1.2225. A clear break above that area could trigger further bullish pressure testing 1.2270 – 1.2300 region. Immediate support is seen around 1.2150. A clear break below that area could trigger further bearish pressure testing 1.2080 but key support remains at 1.2000. As long as stay above 1.2000 the hammer formation bullish correction/reversal scenario should remain valid.