GBP/USD has no technical support as low as 1.2860

Note: This section contains information in English only.
Source: Dukascopy Bank SA
The GBP/USD pair is bouncing off resistance levels, which create a resistance cluster from the 1.2940 to 1.2950 levels. Meanwhile, the pair had no technical support as low as the 1.2860 mark.

In general, from a technical perspective the rate is expected to continue its decline in the borders of a descending channel pattern. Namely, it should reach for the 62.30% Fibonacci retracement level at 1.2864.  

On the other hand another fundamental announcement about the Brexit talks might immediately change the situation by causing another bounce upwards or sudden drop down.
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Mon, 11 Feb 2019 09:55:45 GMT

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