Sterling Inches Higher To 1.2643, But Gives Back Gains

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The British pound sterling managed to steadily rise towards the resistance level of 1.2643 on Thursday.

But price action failed to breakout any higher, leading to a bearish candlestick on the four-hour chart.

If this trend continues, we expect to see GBPUSD closing lower into the weekend.

The support area near 1.2516 remains the immediate downside target that might keep a hold on the declines for the moment.

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