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The British pound has moved below the 1.2300 level against the US dollar, following dovish comments from Bank of England member Michael Saunders. It is possible that the GBPUSD pair could target the 1.2250 support level if sellers break through the 1.2275 technical area. Overall, bearish Brexit developments are likely to keep the GBPUSD pair contained below the 1.2300 level.

The GBPUSD pair is bearish while trading below the 1.2360 level, key support is found at the 1.2250 and 1.2205 levels.

If the GBPUSD pair trades above the 1.2360 level, key resistance is found at the 1.2410 and 1.2470 levels.

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