Technical Talk:GBP/USD

GBP/USD Analysis: Surges to R2 at 1.3355
Our preference: long positions below 1.3254 with targets at 1.3170 & 1.3120 in extension.
Alternative scenario: Above 1.3254 look for further upside with 1.3291 & 1.3334 as targets.

During Thursday’s trading session, the British Pound traded sideways to stay at 1.3200. On Friday morning,
the rate was supported by the 55-hour simple moving average to trade at the 1.3264 mark.

In regards to the near-term future, most likely, the currency exchange rate will keep surging towards the weekly
R2 at the 1.3355 mark.

It is expected that the rate will end today’s trading session at the 1.3300 level.

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