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GBPUSD previously broke through the support zone lying between the support level 1.39000 and the 61.8% Fibonacci correction of the sharp upward impulse wave (1) from the start of April. The breakout of this support zone accelerated the active short-term impulse waves (i) and C. Given the strong USD bullish sentiment – GBPUSD can be expected to fall further toward the next support level 1.38000 (former low of wave 2 from May and the target price for the completion of the active impulse wave C).
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