GBPUSD extended its downside movement from 1.4376 to as low as 1.3101. As long as 1.3472 resistance holds, the downtrend could be expected to continue and the next target would be at 1.2500 area.
On the upside, a breakout of the 1.3472 resistance would indicate that the downside movement had completed at 1.3101 already, then a further rally towards 1.3750 area could be seen.
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