GBP slips below daily cloud top and 38.2% Fibo, 1.2360-1.2345 respectively

RSI and fourteen day momentum readings confirmed the price drop

Modest rebound from 1.2332 to 1.2370 helping to keep the down move healthy

Key 50% Fibo of the 1.1805-1.2679 climb provides a bear target at 1.2242

Key resistance is and game changer the 10DMA, 1.2439

We see potential for further losses but possibly after a correction

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