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GBPUSD channel breakout

Bearish: We are currently @ 1.2941 just out of a channel in a range.  IF we can break support here, we are looking for a continuation to the ATR target @ 1.2859 area. The further target is the 0.786 Fibo @ 1.2783.  Watch the USDX for direction. The ATR for the pair currently is 124 pips per day. 

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