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GBPUSD recently reversed down from the resistance area lying between the key resistance level 1.31650 (which has been reversing the price from April) and the upper daily Bollinger Band. Given the overbought daily Stochastic, the proximity of the aforementioned resistance zone and the moderate Sterling sentiment seen across the markets today- GBPUSD is likely to remain under the bearish pressure and to fall toward the next round support level 1.30000 (former monthly high from October).
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