Just a quick idea, I entered a large short position for my Business account (3.89 standard lots), just waiting to see if it bounces off this slight resistance and continues the fall. I see a lot of charts pointing to a bull run, but I'm betting against it. Shooting for the 1.28 mark, but with brexit news swirling this week, I'm not really sure.
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Almost got stopped out, but added to the position at the peak. Still going short, aiming for 1.30 as a bare minimum profit target, ultimately shooting for 1.28.
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I moved my stop up because I really didn't want to see this trade fail, and I am glad I did that - woke up and saw the pound plummet -0.49%, which is good news for me. I am hoping it continues to fall with brexit uncertainty.