GBPUSD to find sellers at previous support?GBPUSD - Intraday - We look to Sell at 1.2288 (stop at 1.2328)
The bearish engulfing candle on the daily chart is negative for sentiment.
A move lower has resulted in prices breaking from the previous range and confirmed our bearish expectation.
Bespoke resistance is located at 1.2300.
Although the anticipated move lower is corrective, it does offer ample risk/reward today.
Preferred trade is to sell into rallies.
Our profit targets will be 1.2188 and 1.2168
Resistance: 1.2300 / 1.2330 / 1.2401
Support: 1.2201 / 1.2168 / 1.2084
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