Just think it has tested 1.2285 3 times, and there is not enough momentum to take it lower. Also, highs on eur, aud, gbp, but no lows on cad or chf, so there is relative strength there.
En masse, there must be more buyers than sellers. So how have they all reached the same conclusion?
Cable will probably go to 1.90 before they all reverse it down to 1.75 again.