GBPUSD drops back to retest breakout level

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The Pound sterling gave back some of the gains from late last week into Friday’s close.

GBPUSD was down 0.82% on the day as price settled near 1.2487.

This drop marks a retest of the breakout level which served as resistance.

A retest of this level for support could see price action to regain the bullish momentum.

The upside target at 1.2686 will be the next level of interest for buyers.

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