GBPUSD Trades Above the 1.3122 Level

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The British pound sterling managed to recover from the brief weakness. Price reversed losses around the trend line to push back higher.

With the 1.3122 level now being tested, further gains are likely. However, the Stochastics oscillator suggests a possible weakness in these gains.

Therefore, if prices slip back below the 1.3122 handle, we might expect GBPUSD to potentially break down lower.

For now, the initial support is seen at the recent swing low of 1.2986.

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