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The GBP/USD pair trades around the 1.4500 figure, having advanced up to 1.4545 so far today, but limited towards the upside by selling interest aligned around the mentioned high. The Pound has seen a nice upward corrective movement last week, recovering up to the 50% retracement of its latest slump, but then easing back as a private poll showed that those favoring a Brexit had began to rise. 

From a technical point of view, the 4 hours chart shows that the price is hovering right below its 20 SMA and 200 EMA, both in the 1.4530/40 region, while the technical indicators present tepid bearish slopes within negative territory, maintaining the risk towards the downside. Friday's low at 1.4451 is the immediate support, with a break below it opening doors for a steady decline, first towards 1.4410 and then towards the 1.4360 region. Above the mentioned daily high on the other hand, should lead to a test of the 1.4600 level, while beyond this last, the rally will likely extend up to 1.4660.

View the live chart of the GBP/USD

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