Sentiment: Strongly Bearish
Due to oversold status of GBPUSD at smaller timeframe, I am expecting a short term Buy to 1.24262 [this level serves as the weekly pivot point and also 0.618 FIB LeveL]. I will use a trailing stop of 30 points till 1.24262 to avoid a sharp down in price. I will continue using a trailing stop to guage my profit should the market continue uptrend in short term. A rejection at any minor LeveL: 1.24262 or 1.24765 signifies a continuation of down trend. Let's say Price is rejected at 1.24262, then I will enter short for long term to 1.2296 [Strong Support Buying LeveL]