Sterling's recovery stopped in its tracks at 1.2261 Friday

Soft bias through Monday but weakness just stalling at the 10DMA, 1.2155

A 50% Fibo off 1.2039-1.2261 is at 1.2150

Fourteen day momentum remains negative and RSI has turned over

Friday's 1.2261 high provides resistance along with today's 1.2240 top

We lean bearish but will wait for stronger signals before entering a trade

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