GBPUSD stays below the downward trend line on 4-hour chart, and remains in downtrend from 1.3445. Further decline is still possible after a minor consolidation, and next target would be at 1.2900 area. Near term resistance is at 1.3140, and the key resistance is located at the downward trend line on 4-hour chart. Only a clear break above the trend line resistance could signal completion of the downtrend.
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