Dear traders, on account of US dollar weakness across the board, GBPUSD spiked to the 1.2560 level. However, it has not been able to breach the zone that I have highlighted in my chart.
Current price action is showing the formation of bearish candlesticks in the PRZ( potential reversal zone). So, if the price does not break 1.2560, traders can consider short-term sell entries in GBP/USD@1.2560 with SL above resistance and TP at 1.2450