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GBPUSD Tests Resistance Again, Caution Advised

by Daisy

The GBPUSD pair is once more testing the crucial resistance level of $1.2700 today, suggesting a cautious approach for upcoming trading sessions. To sustain a bearish trend, the price must consolidate below this key level, with an initial downside target set at $1.2580.

Intraday trading strategies continue to favor a bearish outlook, contingent upon the price remaining below $1.2700. However, a breach of this resistance could initiate a bullish wave, targeting initial gains towards $1.2800.

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The expected trading range for the day remains between support at $1.2600 and resistance at $1.2750. Investors are advised to monitor price movements closely around these levels for potential trend developments.

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