If one considers reasons for sell of in GBP due to Gilts being crushed/crashed, we can find now ample reasons for a reversal short-term. the pair is very oversold on all fronts, and I suspect we see a return to at least 1.2475 in coming weeks.

Strategy BUY @ 1.2275-1.2310 and take profit near 1.2425.
Chart PatternsTechnical Indicators

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