On the 4H chart the GBPUSD is in a string down trend. Price is currently at the top of the bear channel. However the 1.3 round number has acted as support. Expect further down move if price breaks the 1.3 zone, at least to support at 1.293x zone. If price breaks (upward) the down channel expect the previous high (1.3120) to be tested which is close to the 61.8% retracement of the swing low that started on September 9.
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