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GBPUSD currency pair recently reversed down from the long-term resistance level 1.42000 (which stopped the sharp uptrend in February) and the upper daily Bollinger Band. The downward reversal from the resistance level 1.4200 stopped the previous impulse waves 3 and (3). Given the strengthening bearish pressure on sterling seen across the FX markets today – GBPUSD currency pair can be expected to fall further toward the next support level 1.41000 (previous trading session low).
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