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GBP/USD Mid-Day Outlook


Every day Pivots: (S1) 1.3000; (P) 1.3063; (R1) 1.3098; Extra…

GBP/USD’s correction from 1.3141 continues to be in progress and deeper decline may very well be seen. However close to time period outlook will keep bullish so long as 1.2847 resistance turned assist holds. On the upside, above 1.3011 minor resistance will flip bias again to the upside for retesting 1.3141 excessive. However, decisive break of 1.2847 will argue that bigger correction is underway and goal 1.2589 assist subsequent.

Within the greater image, rise from 1.0351 medium time period backside (2022 low) is in progress. Subsequent goal is 100% projection of 1.0351 to 1.2445 from 1.1801 at 1.3895. Break there’ll goal 1.4248 key long run resistance (2021 excessive) subsequent. This may now stay the favored case so long as 1.2678 resistance turned assist holds.

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