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The GBP/USD exchange rate has reached the $1.2900 level and is holding steady, poised to continue its bearish trajectory. This decline follows a rise from the $1.2615 mark. Analysts anticipate that the pair could target further downward moves, with initial support expected around $1.2880 and a subsequent target at $1.2780.
A crucial factor for the continuation of this bearish trend is maintaining a price level below $1.2945. A breach above this threshold could counteract the current downward pressure and potentially shift the focus back towards a bullish trend.
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For today, trading is projected to range between a support level of $1.2830 and a resistance level of $1.2990.
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