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Previous low support at 1.8735 is broken below, and GBPUSD may be bottoming on 4 hours chart, near term resistance is the falling trend line, a break above the trend line resistance may consider the reversal to the down trend, and breaking above the key resistance at 1.8913 is needed to confirm the cycle bottom. On the other side, the pair fell sharply to 1.8722 level, and further fall towards 1.8602 previous low support is still possible in the next several days if 1.8722 level is broken below. (more…)