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GBPUSD Price Analysis Indicates Bullish Trend

by Daisy

In the current market scenario, the GBPUSD price demonstrates fluctuations around the EMA50, which serves as a robust resistance level at $1.2750. To overcome this barrier and pave the way for achieving anticipated positive targets, the price requires substantial upward momentum.

The anticipated positive targets commence at $1.2800 and extend to $1.2893. Therefore, we maintain our recommendation of a bullish trend for the foreseeable future. It remains imperative for the price to maintain its position above $1.2700 to realize the projected targets effectively.

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In terms of expected trading range, we anticipate support at $1.2660 and resistance at $1.2820, delineating the potential boundaries for price movement in the upcoming trading sessions.

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In conclusion, the trend forecast for GBPUSD remains bullish, contingent upon the price sustaining above critical support levels and garnering the necessary momentum to surpass resistance barriers.

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