Currently, GBP/USD is trading at 1.2730. The pair started a new up trend on 26th May and after touching the resistance level, the price is consolidating in the resistance and support wedges. It may start a new down trend if it breaks the support level at 1.2634, then its target price will be at 1.2323. If it breaks the resistance level at 1.2739 then the pair may start a new up trend and its target price will be at 1.2965.
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Rishikesh Lilawat
Do follow us for future Forex trend analysis.
Thank you,
Rishikesh Lilawat