The GBPUSD pair appears to be displaying signs of weakness, with the upward bias on the 1-hour chart appearing to fade. If the price closes below the channel or trendline, I expect it to reach the 1.23250 and 1.231300 price levels. Share your thoughts on this and don't forget to follow me for updates.
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The Flash Services PMI data 48.0 released wasn't what market participants expected. This resulted in the GBP or Cable sell-off. Figures below 50 is usually not healthy for the manufacturing sector. Target reached @1.23250