As you're aware, I've held a strong bearish stance on GBPUSD, not only anticipating a drop below the 1.25 support level but also expecting a plunge to the 1.2 level.
So far, this prediction has been on point. Last week, cable confirmed its weakness as all rallies were sold off, failing to even retest the broken 1.25 support level.
Maintaining my bearish outlook, I anticipate further downside momentum, potentially reaching 1.2.
Regarding entry points for short selling, if you're not already in a short position, the optimal level would be around 1.24. However, given yesterday's price action, rallies above 1.2350 should also be viewed as favorable opportunities for entry.
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