GBP/USD: downside bias on strong greenback, target below 1.22 handle

Currently, GBP/USD is trading at 1.2254, down -0.26% on the day, having posted a daily high at 1.2290 and low at 1.2240.

US Economic Forecast 2017: It's been emotional... and Trump hasn't even been inaugurated yet

GBP/USD is in a weekly sell off still, dropping from 1.2773 at the start of December 2016 and is headed for a break of the 1.22 handle if the bears can make it through 1.2220 support level and recent lows while the market is supporting the dollar long theme ahead of Trump's inauguration on the 20th Jan on a foundation of a hawkish looking FOMC for H1 2017. 

What's the best trade for the UK in 2017? - Socgen

GBP/USD levels

Current price is 1.2255, with resistance ahead at 1.2266 (Daily Classic S1), 1.2267 (Yesterday's Low), 1.2267 (Hourly 20 EMA), 1.2274 (Monthly Low) and 1.2274 (Weekly Low). Next support to the downside can be found at 1.2247 (Daily Classic S2), 1.2240 (Daily Low), 1.2226 (Daily Classic S3), 1.2167 (Weekly Classic S1) and 1.2122 (Annual Low). 

Further reading:

European Economic Forecast 2017: An EU under siege from within, call in the populists!