The British pound is currently in an active downtrend. As long as the price remains below the upper trendline, we are looking at nothing but a possible long term sell position towards 1.19420 and may continue much lower. If you are on this chart, keep looking for sell positions towards 1.18 or even lower. On the flipside, should the price break and close above the upper trendline, then this will be a good place to consider a possible buy position towards 1.23 and may rally much higher.
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