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GBP/USD continued to move lower as projected in the previous analysis. The pair tested the first two targets and stopped at 261.8% Fibs. (1.2852). If this level holds, GBP/USD might start a correctional wave up, however it could be too early. Consider holding short positions targeting the final Fibonacci target at 361.8% (1.2775).
Support: 1.2855, 1.2775
Resistance: 1.2930
