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GBP allready steady push higher over the past few days may be safely attributed more to US dollar weakness rather than sterling strength. it can be seen in other positions.
Over the last three weeks USD 1.2353 has been the high-water mark for the pair, making the top end of a range bounded by $1.21 on the downside.
Even if the price breaks higher from here, it still needs to clear the $1.230-$1.240 area to break the longer-term downtrend.
Over the last three weeks USD 1.2353 has been the high-water mark for the pair, making the top end of a range bounded by $1.21 on the downside.
Even if the price breaks higher from here, it still needs to clear the $1.230-$1.240 area to break the longer-term downtrend.