GBPUSD - Intraday - We look to Sell at 1.1990 (stop at 1.2070)
Although the bears are in control, the stalling negative momentum indicates a turnaround is possible. There is no sign that this bearish momentum is faltering but the pair has stalled close to a previous swing low of 1.1875. We are trading at oversold extremes. A higher correction is expected. The bias is still for lower levels and we look for any gains to be limited. Preferred trade is to sell into rallies.
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