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Barclays: bearish on GBP/USD

GBP/USD extends the decline on Monday, testing $1.6330.

According to analysts at Barclays, a daily close below $1.6300 will pull the cable down to $1.5850 in the coming weeks. They note that the pair has broken the July trend line to the downside. Analysts point that GBP could find some short-term support in the $1,6300/10 area. 

Chart. Daily GBP/USD

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