GBP/USD below major resistance, remain bearish

We remain bearish below the 1.2481 resistance (Fibonacci retracement, horizontal overlap resistance, descending resistance) for a push down to the 1.2390 support (Fibonacci extension, horizontal support).

The RSI (34) remains below the long-term descending resistance.

Sell below 1.2481. Stop loss at 1.2527. Take profit at 1.2390.

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