On the 4 hour chart, after breaking out, the GBP/USD pair closed below the previous day low at the 1.2976 level. The pair is now trying to hit the nearest target levels of 1.3070-1.3079. Please pay attention that the pair is unlikely to resume its upward movememt if Cable continues to decline and closes below the 1.2949 level.
(Disclaimer)
The material has been provided by InstaForex Company - www.instaforex.com
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