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GBPUSD Price Analysis
Current Scenario
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The GBPUSD price is once again testing the critical resistance level at 1.2700$, prompting cautious trading considerations. Sustained consolidation below this level is necessary to uphold the bearish trend scenario, with an initial downside target set at 1.2580$.
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Bearish Outlook
Intraday outlook continues to favor a bearish trend, contingent upon the GBPUSD price remaining below 1.2700$. However, a breakout above this level could trigger additional gains and establish a bullish momentum, targeting first at 1.2800$.
Expected Trading Range
- Support: 1.2600$
- Resistance: 1.2750$
Trend Forecast: Bearish
