GBP/USD plummeted like a brick on Tuesday. The financial media blamed Brexit fears. Although, it could be spotted that the move most likely had a fundamental cause that was strengthened by the passing of the support levels and sentiment numbers indicating that the rate was already overbought by the retail sector.

Next up the pair is expected to test the support levels near 1.2450. This round levels has shown itself in the past as a significant one.

Meanwhile, note that Dukascopy Analytics will investigate the cause of the decline and publish an Expert Commentary publication on our website and send it through the newsletters.

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