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Home News GBPUSD Breaks Target, Eyes Further Gains

GBPUSD Breaks Target, Eyes Further Gains

by Barbara

The GBPUSD pair has successfully surpassed the anticipated target of 1.2890$, firmly establishing itself above this level and signaling a continuation of the bullish trend in the near term. Analysts suggest that with the next target set at 1.3000$, the upward momentum is expected to persist across both intraday and short-term periods.

Key indicators supporting this bullish outlook include the EMA50, which is currently providing upward support from below. However, caution is advised as a breach below 1.2890$ could trigger a temporary intraday correction, potentially testing support levels near 1.2800$ before any renewed upward movement.

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For today’s trading sessions, experts anticipate a trading range bounded by support at 1.2840$ and resistance at 1.2990$. Investors and traders are advised to monitor these levels closely for further insights into market movements.

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This development underscores the ongoing strength of the GBPUSD pair amid prevailing market conditions, highlighting potential opportunities for traders navigating the currency markets.

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