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GBP/USD Technical Analysis

Source: Dukascopy Bank SA
On the 1-hour GBP/USD chart, price action is currently consolidating at 1.33795 after bouncing off key horizontal support near 1.33500, which aligns with the lower boundary of a descending corrective channel formed after a rally to 1.35500. The immediate bias remains neutral-to-bearish while held within the channel, but a sustained push above immediate horizontal resistance at 1.34000 could propel price toward major resistance at 1.34500, whereas a breakdown below 1.33500 would open the path toward 1.33000.





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