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The British pound has recently weakened slightly against the US dollar. It was influenced by several factors that currently have a chance to work the other way. Today’s data for America indicate a significant deterioration in retail sales, which may be the beginning of the dollar’s weakening again. Additionally, the pound is on the verge of an upward channel and is supported by relatively important support. In the image I have marked the place where I will watch the price when I want to enter a long position. If the price does not give a clear signal, I will not try.
