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Current price: 1.3170
Key point: 1.3180
Our preferred strategy: Sell positions below 1.3180 with a first target of 1.3140 and then a second target of 1.3080.
Alternative scenario: Stop loss and trend reversal upon breaking the 1.3200 level, targeting the 1.3260 level.
Technical commentary
The GBP/USD pair broke the pivotal support level of 1.3180, continuing its strong downward trend. Further declines are expected, with the first target being 1.3140 and then 1.3080.
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