Under Pressure
Our Pivot: 1.3260
Our Preference: Start Short selling below 1.3230 with strict stop loss of 1.3260 and profit target at 1.3185 with extension towards 1.3155.
Alternate Scenario: Upward penetration of 1.3260 will call for 1.3280 and 1.3300.
NOTE: GBPUSD is being capped by a strong resistant trend line at its 61.8% correction of its last bearish rally, mean while hourly momentum indicators have changed their direction towards bearish side.
Hourly chart with supports & resistances:
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