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GBP/USD is approaching 1.2658. We expect either a breakout through this line, or a rebound.

GBP/USD is moving towards a resistance line. Because we have seen it retrace from this level in the past, we could see either a break through this line, or a rebound back to current levels. It has touched this line numerous times in the last 5 days and may test it again within the next 16 hours.

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