• An acceleration lower and the intraday chart looks stretched

• A new pullback low of 1.2879 having peaked at 1.3044 on July 17

• Trailing resistance now at 1.2871 and today's high at 1.2862

• We have locked in more profit on our 1.2935 short play

• Stop now at 1.2875 with a target at 1.2680

• The monthly chart is showing bearish potential despite a bullish July

• GBP/USD trader TGM2338

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