Sterling Breaks To The Downside From Its Range
The pound sterling is looking to break out from its range as price slipped from the lower range on Friday.
The declines below 1.2260 level could indicate a move lower.
However, the intensity in the breakout remains weak, putting to question the downside bias.
With the Stochastics oscillator likely to turn higher, we suspect this could be a fake breakout lower.
Expect GBPUSD to move back into the range, unless prices drop further below from 1.2260.
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