Daily Pivots: (S1)12,057; (S2)12,010; (S3)11,919;
(P)12,148; (R1)12,194; (R2)12,285; (R3)12,332 The GBP has started the new trading week with a bearish
tone against the US dollar after the pair suffered its largest weekly decline in
nearly eight weeks. The GBP/USD. To push the price higher, bulls must defend
this week 12,000 level (is 50% retracement from the April monthly high to the
current year low) otherwise the most likely price would be tested 11,800 level. Key
level 12,300.