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Feb 2, 2021
GBPUSD Another rejection
The British pound has suffered yet another upside rejection from the 1.3700 level against the US dollar, placing the short-term bullish trend in question. Another major concern for GBPUSD buyers is the US dollar index, which could breakout higher at any moment. Overall, multi-day weakness below the technically important 1.3650 level is likely to encourage GBPUSD bears this week.
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The GBPUSD pair is only bullish while trading above the 1.3650 level, key resistance is found at the 1.3690 and the 1.3750 levels.
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If the GBPUSD pair trades below the 1.3650, sellers may test the 1.3600 and 1.3540 support levels.