Sterling gains are stalling but pullbacks have been limited

Despite being very thin the daily cloud is proving tough to clear

By the same token the cloud base is supporting the market at 1.2144

We are maintaining a 1.2181 short play for 1.1920

The trade is at risk to a bullish continuation pattern playing out

Daily momentum readings on the rise but RSI flat lining

Tuesday's 1.2203 high initial resistance

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