Currently, GBP/USD is trading at 1.2418 consolidating in the same range, last week this pair started its uptrend and after rebounding from its resistance level it is trading in a sideways direction. If it breaks neckline at 1.2292, pair may enter into a new downtrend and then next support which is at 1.2167, will be its first target.
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Rishikesh Lilawat
Do follow us for future Forex updates.
Thank you,
Rishikesh Lilawat