UOB predicts that GBPUSD could experience further declines and will find support near the 1.2720 level.

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GBPUSD Chart by TradingView

Further selling pressure in GBP/USD is expected to meet a tough support around 1.2720, according to Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group.

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