GBP/USD: Caution

Pivot (invalidation): 1.2705

Our preference Long positions above 1.2705 with targets at 1.2755 & 1.2785 in extension.

Alternative scenario Below 1.2705 look for further downside with 1.2675 & 1.2645 as targets.

Comment A support base at 1.2705 has formed and has allowed for a temporary stabilisation.

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