Renewed Brexit optimism and weak US data helped the pound to surge to 1-week peaks. The sterling is eyeing the 1.2420 hurdle now.
The main scenario is a decline to the 1.2300 area.
An alternative scenario is a jump to 1.2420.
Sell towards 1.2300 after a break below 1.2330.
Buy the Cable towards 1.2420 when the rate overcomes 1.2360.