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On Thursday, the GBP/USD exchange rate declined to the 200-hour SMA near 1.3120. During today’s morning, the rate reversed north.

It is likely that the currency pair could be pushed down by the 55– and 100-hour moving averages near 1.3200. In this case the pair could target the weekly PP located at 1.3062.

However, if the 200-hour SMA holds, the exchange rate could reverse north and try to exceed the predetermined resistance.

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