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GBP/USD closed lower on Monday. Prices closed nearer the session low today. The bears have the solid near-term technical advantage. Prices are in a four-month-old downtrend on the daily bar chart. There are still no early clues of a market low being close at hand. If it resumes the decline off January's high, the 75% retracement level of 2009's rally crossing is the next downside target. The mid-range close sets the stage for a steady opening on Tuesday.