Under Pressure
Our Pivot: 1.2340
Our Preference: Short sell GBPUSD below 1.2285 with strict stop loss of 1.2340 and profit target at 1.2225 and 1.2180.
Alternate Scenario: Upward penetration of 1.2340 will call for 1.2400.
NOTE: GBP is being capped by a strong horizontal resistant region.
Chart with supports & resistances:
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