GBPUST: Sell to win !
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The GBP/USD pair is currently trending downward, with prices continuing to slide after encountering resistance. At present, the pair is hovering around the 1.2685 mark, with potential for further declines if it fails to recover above the resistance zone.
This area around 1.2875-1.2972 has proven to be a significant resistance level, where sellers have previously regained control. If the downtrend continues, GBP/USD may target the support area near 1.2550, which could provide some stabilization for the pair. However, a break below this support could lead to a deeper decline.
Traders are advised to watch for any potential reversal signals around the resistance area.
This area around 1.2875-1.2972 has proven to be a significant resistance level, where sellers have previously regained control. If the downtrend continues, GBP/USD may target the support area near 1.2550, which could provide some stabilization for the pair. However, a break below this support could lead to a deeper decline.
Traders are advised to watch for any potential reversal signals around the resistance area.
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