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GBP/USD – 1.2981

Recent wave: Wave V of larger degree wave (III) has ended at 1.1986 and major correction has commenced from there for gain to 1.3000 and 1.3140-50

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Sterling extends weakness below pivotal support at 1.2700 on Tuesday, as Monday's strong upside rejection at daily cloud top and close in red weighed on market.

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