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GBP/USD Mid-Day Outlook


Day by day Pivots: (S1) 1.2731; (P) 1.2786; (R1) 1.2832; Extra…

GBP/USD’s fall from 1.3141 continues at this time and intraday bias stays on the draw back. Deep decline can be seen to 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 larger image, so long as 1.2678 resistance turned assist holds, rise from 1.0351 (2022 low) is predicted to proceed via 1.3141 excessive at a later stage. Nonetheless, sustained break of 1.2678 will argue that it’s a minimum of correcting this rally, with danger of bearish reversal. Deeper fall can be seen to 1.2306 assist subsequent.

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