You would be well advised to confirm the breakout that has just occurred – do you believe the move through support to be significant? Do you have confirming indicators that the price momentum will continue? If so, look for a target of 1.2682 but consider reducing the size of your position as the price gets closer to that target.
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After experiencing a 2.58% bearish move in the space of 15 days, nobody knows where GBP/USD is headed.
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