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The British pound sterling is trading weaker amid broad dollar strength.

Price action was confined to the range between the 1.3300 and 1.3122 levels over the past few sessions.

However, the current pace of declines seems to be limited for now. As a result, we could expect GBPUSD to remain range-bound within the current levels.

At the very least, the cable might touch down to the 1.3122 level of support in the short term.

As long as this support holds, GBPUSD could remain biased to the upside.

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