GBPUSD breaks below 1.4051 support. Deeper decline could be seen next week and target would be at 1.3700-50 area. Key resistance is now locate at 1.4661, only above this level will indicate that a cycle bottom has been formed on daily chart and the following uptrend will take price back to 1.5500 zone. For long term analysis, GBPUSD might be forming a cycle bottom at 1.3503 level on weekly chart. Key resistance is now at 1.4985, a break above this level will confirm the cycle bottom.
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