The British pound closed as a bullish candle. However, this is the continuation of a retracement to the upperside but should not go beyond 1.33552. As long as the price remains below this level, I expect nothing but a possible long term sell position towards 1.27930 and may continue much lower. On this chart, sell positions looks ideal and can safely be recommended with the first target at 1.29730 and the next target set at 1.27.
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