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Oct 17, 2019
GBPUSD 1.2720 support
The British pound has turned lower against the US dollar after recent reports suggested that Brexit negotiations still face hurdles before a deal can be reached. The GBPUSD pair is now trading under the 1.2800 level, leaving the 1.2720 level as the strongest area of near-term support. GBPUSD bulls need to reclaim the 1.2800 level to encourage another technical test of the 1.2840 technical area.
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The GBPUSD pair is only bearish while trading below the 1.2720 level, key support is found at the 1.2660 and 1.2515 levels.
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If the GBPUSD pair trades above the 1.2720 level, key resistance is found at the 1.2840 and 1.2878 levels.