GBPUSD | Is This a Temporary Break?

GBPUSD | Is this a temporary break?

Despite weak data from Europe and UK, GBP is not giving up at all.

Since mid-July, the price is still holding very strong and it
continues to progress in very small steps making this trade difficult.

The volume of the current season is also very low adding a negative flavor to it across the market.

In our current setup, the price could go down to 1.2040 and could go up
again for the next bullish move. Overall, I am still bullish as long as the GBP is holding strong.

If the price manages to fall below 1.2040 it may drop further to 1.1800

Thanks and good luck!