New session low below 1.2350 and we lower our 1.2430 short stop to entry

Potential for a bearish engulfing candle as sterling slides to 1.2332

We target 1.2272 initially, the 10DMA line

Bullish divergence on 14-day momentum a concern

Daily RSI has turned over from high levels

Close under Friday's 1.2334 low sees our stop lowered again

Mon 1.2447 high now key resistance and potential squeeze point

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