I am very confused by the Precision attribute. On the Guild Wars 2 wiki it says:
Precision is an offensive character attribute. Attribute points put into precision increase the chance of a critical hit for the character. Many of the conditional effects of a skill or trait trigger on a critical hit.
What confuses me is, how critical strike is calculated from precision. I had previously had 47% chance to critically strike (when I was about lvl 40). I am now lvl 60 and when I looked it says I only have 40% critical chance. I know for a fact that I have way more points of precision now than when I had 47% critical chance.
The only reason for this that I can think of is that the equation to calculate critical chance from precision takes level in account. But I would appreciate if someone give a definitive answer on how critical strike is calculated.