GBPUSD Institutional Short Setup

FX:GBPUSD   British Pound / U.S. Dollar
Good evening traders.

As discussed in yesterday's short-term technical outlook, a failure to sustain above the week's high at 1.2278 will likely keep pressure on the downside.

Spike through week's high was quickly matched with selling.

The pressure at this point is to the downside.

1.225 marks intraday resistance where institutional traders may be looking to add to shorts.

A rally up into the figure may be matched by quick selling.

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