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GBPUSD remains in uptrend from 1.5490, the price action from 1.6272 is treated as consolidation of the uptrend. Support is now at 1.6163, as long as this level holds, the uptrend could be expected to resume, and a break above 1.6309 could trigger another rise towards 1.6500. On the downside, a breakdown below 1.6163 will suggest that lengthier consolidation of the uptrend is underway, then deeper decline to 1.6050 area could be seen.
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