GBPUSD continues to maintain a bullish position

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The British pound is retracing some of the gains from Friday’s session. However, price action looks bullishly positioned.

There is scope for a decline to 1.2277 where support could be forming.

This will position the currency pair toward further gains to 1.2858.

In the event that price action slips below this level, then the declines will test the lower support at 1.1878.

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