11.08.202213:01 Forex Analysis & Reviews: GBP/USD update for August 11, 2022 - Potential for the second downside swing to develop

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Technical analysis:

GBP/UISD has been trading flat today at the price of 1.2204 but I see potential for the second downside swing.

Trading recommendation:

Due to the strong growth yesterday and extreme condition, I see potential for the downside movement.

Watch for potential selling opportunities with the downside objective at the price of 1.2135.

Stochastic oscillator is showing overbought condition and bear cross, which is sign that sellers are taking control.

Key resistance is set at the price of 1.2270

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