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GBP/USD continues to decline
The gentle decline in cable goes on, with the area around $1.5413 still holding as support, as it did on Thursday of last week. A failure to move back above $1.5460 will signal the downside has become the path of least resistance, with a break through Wednesday’s low around $1.5410 taking us onwards to the $1.5380 level. Rising support is still to be found from the October trendline, so this should limit any real downside for the time being, with $1.5280 being the area to watch.