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GBP/USD Mid-Day Outlook


Each day Pivots: (S1) 1.2531; (P) 1.2576; (R1) 1.2593; Extra…

Intraday bias in GBP/USD stays impartial as consolidation continues above 1.2546. Close to time period outlook stays mildly bearish so long as 1.2799 resistance holds. On the draw back, break of 1.2546 will resume entire fall from 1.3141 to 61.8% projection of 1.3141 to 1.2618 from 1.2799 at 1.2476. Agency break there might immediate draw back acceleration to 100% projection at 1.2276.

Within the greater image, for now, fall from 1.3141 medium time period high is seen as a correction to up pattern from 1.0351 (2022 low). Deeper decline could be seen to 38.2% retracement of 1.0351 to 1.3141 at 1.2075. Robust assist could be seen there to carry rebound on first try. However outlook can be impartial at finest so long as 1.3141 resistance holds, and consolidation from there’s set to increase, till additional improvement.

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