Technical Observation:
Gbp is currently trading slightly below its daily pivot line 1.3159. By closing below 1.3452, Gbp went lower than expected and may continue to plummet even further. That said, unless there's a clear close above 1.3159 and most importantly above 1.3452, I expect a drastic drop towards 1.2098 or even lower. On it's way downwards, key support can be seen around 1.2857, 1.2520 and lastly 1.2098, if these lines are broken, then the price may drop even further towards 1.1660.
Technical Levels
Resistance levels
R1: 1.3211
R2: 1.3302
R3: 1.3445
Pivot
1.3159
Support Levels
S1: 1.2874
S2: 1.3017
S3: 1.306
Trade Signal
Look for a short position towards 1.2857
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