GBPUSD Day | Bearish Continuation Expected?

The GBP/USD chart displays a dominant bearish trend, emphasized by its position below the bearish Ichimoku cloud and a descending trend line. Key supports stand at 1.2293, backed by the 78.60% Fibonacci Projection, and 1.2182, aligned with the 100% Fibonacci Projection. Resistances are identified at 1.2418 and 1.2632, with the latter being an overlap resistance. The overall outlook remains bearish.

Analysis are provided by InstaForex

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