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GBPUSD recently reversed down from the resistance area lying between the key resistance level 1.26000 (which has been reversing the price from April), upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous downward impulse from the start of March. Given the moderately bearish sentiment affecting the sterling today – GBPUSD is likely to extend the losses from the current levels toward the next support level 1.24000 (former resistance from May).
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