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Analysis

GBP/USD may rise 25 - 40 pips

BY Trading Central

|February 16, 2024

Intraday: bullish bias above 1.2570.

 Intraday: bullish bias above 1.2570.

Pivot

1.2570

Our preference

Long positions above 1.2570 with targets at 1.2605 & 1.2620 in extension.

Alternative scenario

Below 1.2570 look for further downside with 1.2555 & 1.2540 as targets.

Comment

A support base at 1.2570 has formed and has allowed for a temporary stabilisation.

Supports and resistances

1.2635

1.2620

1.2605

1.2580 Last

1.2570

1.2555

1.2540

Number of asterisks represents the strength of support and resistance levels.

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