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As you can see below, the British pound has rebounded from the resistance and is going downhill. We do not expect a repeat of yesterday due to the zone where there are probably many investors’ orders. Our assumptions are rather for a local correction and rebound to resistance, or maybe even a level break.

An additional factor may be the forecasts of better data for Europe, which has strengthened the pound so far.

However, if the bears were stronger and sales continued, the next level (in our target assessment – the last one) may be the level shown in the photo below

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