I quite like the look of shorting GBPUSD at this key 1.22 level.
Nice 1hr bearish trendline, consecutive lower highs and lower lows being made. The 50/200EMA alignment is bearish and I can see signs of 1.22 key level resistance holding strong.
I think we could see a sell off from here through the rest of the week and at least see previous lows from Friday evening retested (1.20800). There is potential for lower lows to be made at 1.20 which would be nice to see.
Trade closed: stop reached
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Trade started well but USD spike this morning meant the SL was triggered. I believe GBPUSD is still bearish but I will leave it for the time being