GBP/JPY At Confluence Area; Rebound Or Continuation?

Breaking below this area could signal a larger drop in the short-term. On the other hand, registering only a false breakdown and stabilizing above this area could announce a potential bounce back. The next downside target is seen at the weekly S3 (152.35). A valid breakdown through this static support may announce a border decline towards 152.00 or even lower. 

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