GBPUSD breaks out of range, will the declines resume?
![gbpusd](https://assets.iorbex.com/blog/wp-content/uploads/2020/05/18001908/GBPUSD_1405-750x430.png)
The British pound sterling is looking to finally emerge from the sideways range.
This comes after price was trading below the lower support level of 1.2277.
A strong close below this level on a daily basis will confirm further declines.
There is also a head and shoulders pattern forming on the daily chart with the neckline support at 1.2277.
Thus, a close below this level will see the immediate downside to 1.2000 and potentially to the previous support area of 1.1878.