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GBP/USD Mid-Day Outlook


Each day Pivots: (S1) 1.2818; (P) 1.2845; (R1) 1.2863; Extra…

GBP/USD’s breach of 1.2761 short-term low signifies resumption of fall from 1.3141. Intraday bias is again on the draw back for 38.2% retracement of 1.1801 to 1.3141 at 1.2629, as a correction to rise from 1.1801. On the upside, above 1.2886 minor resistance will flip bias again to the upside for stronger rebound.

Within the greater image, so long as 1.2678 resistance turned help holds, rise from 1.0351 (2022 low) is anticipated to proceed. Subsequent goal is 100% projection of 1.0351 to 1.2445 from 1.1801 at 1.3895. Nevertheless, sustained break of 1.2678 will argue that it’s at the least correcting this rally, with threat of bearish reversal.

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