Under Pressure
Our Pivot: 1.2410
Our Preference: Start short selling GBPUSD below 1.2350 with strict stop loss of 1.2410 and profit target at 1.2288 with extension towards 1.2245.
Alternate Scenario: Upward penetration of 1.2410 will call for 1.2445 and 1.2465.
NOTE: GBP is being capped by a strong horizontal resistance along with an ascending trend line.
Chart with supports & resistances:
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