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GBP/USD Mid-Day Outlook


Day by day Pivots: (S1) 1.2567; (P) 1.2594; (R1) 1.2636; Extra…

Intraday bias in GBP/USD stays on the upside at this level. Present rise from 1.2154 would goal 55 day EMA (now at 1.2756). Sustained break there’ll goal 1.2999 assist turned resistance subsequent. On the draw back, although, break of 1.2480 minor assist will flip bias again to the draw back for retesting 1.2154 low as a substitute.

Within the greater image, based mostly on present momentum, fall from 1.4248 (2018 excessive) a minimum of on the identical diploma because the rise from 1.1409 (2020 low). That’s, fall from 1.4248 may very well be a leg contained in the sample from 1.1409, or resuming the long run down pattern. In both case, deeper decline is predicted so long as 1.2999 assist turned resistance holds. Subsequent goal is 1.1409 low.

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