The pound is still likely to weaken
The short-term trend of the British pound against the US dollar is down to the 100% Fibonacci estimate at 1,2655. With the breakout of these levels, GBPUSD will reach 161.8% at 1,2258.
From the buyers’ point of view, if the 1.2822 partial resistance is broken, the GBPUSD market will be neutralized.
* Technical H4 analysis of GBPUSD
* Technical daily analysis of GBPUSD
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