Dear traders, GBP/USD is currently in consolidation mode. The price action is neutral at the moment which is why it would be unwise to buy or sell at the current price level.
However, the level 1.2310 is very important as it is the confluence of the 100-day EMA and previous bounce point. So, if price dips to the said level and we see formation of bullish price action, traders can go long in GBP/USD@1.2310 with SL below 1.2250 and initial TP at 1.2550.