The GBPUSD had a bullish momentum yesterday topped at 1.2354 but closed lower at 1.2302. The bias remains bullish in nearest term especially if price able to make a clear break and consistent movement above 1.2330/50 targeting 1.2450 area. Immediate support is seen around 1.2270. A clear break below that area could lead price to neutral zone in nearest term testing 1.2220/00 area. Overall I remain bearish but as long as stay above 1.2000 key support, the hammer formation bullish correction/reversal scenario (daily chart) should remain valid.