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The bearish sentiment could influence the GBP/USD pair to test the major support of 1.2550 level, followed by February’s low of 1.2518.
On the upside, the GBP/USD pair could meet the major barrier at 23.6% Fibonacci retracement level of 1.2650 level. A breakthrough above this barrier could exert upward support for the pair to test the nine-day Exponential Moving Average (EMA) at 1.2668.
If the GBP/USD pair surpasses the latter, it could approach the psychological level of 1.2700.