Bank of America Global Research discusses GBP/USD technical outlook and sees a scope for a move towards 1.14/1.12 over the coming weeks.

"The daily chart of GBP vs USD shows potential for a double top pattern to be confirmed should the trough between the last two peaks break. This threshold is 1.1842. If it does, we estimate downside to 1.14/1.12," BofA notes.

"Until support breaks, the trend is still range bound between 1.19-1.24," BofA adds.