On the GBPUSD daily chart, we can see that the pair is pulling back into the strong upside support 1.2700-1.2750 zone. This zone is the only support left for before an extreme downside continuation. Bounce from here could lead to a test of the 1.2980 level. Here both long and short trade entries have the same probability and a good risk to reward.
Note: Look for the price action here for the possible long and short trade entries.
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