Instead of continuing its decline, Pound Sterling (GBP) is likely to trade within a range of 1.2240 to 1.2360. Despite signs of oversold conditions, risks to the downside remain notable.

Investors must stay aware of market dynamics and the various drivers influencing these fluctuations. The recent trading patterns indicate that uncertainty persists. With close monitoring of economic reports, traders can determine the best strategy for entering or exiting positions. Staying informed will allow for wise trading decisions amid potential shifts in the market landscape.