GBPUSD Gives Back Gains, Falling to 1.3300 Technical Support

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The British pound sterling gave back some of the gains on Friday, to close on a bearish note. This move saw price action falling back to the familiar support of 1.3300.

This also resulted in the rising trend line being breached.

If we see a downside continuation, then the break down below 1.3300 could put GBPUSD back into its old consolidation range.

Price action on the daily chart shows a bearish move, which could confirm the continuation to the downside.

However, the declines could stall within the 1.3300 and the 1.3122 levels in the near term.

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