GBP/USD’s down trend extended to as low as 1.2410 last week. A temporary low was formed there and initial bias is neutral this week for consolidation. Upside of recovery should be limited below 1.2999 support turned resistance. On the downside, break of 1.2410 will target 161.8% projection of 1.3641 to 1.2999 from 1.3297 at 1.2258. […]
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