GBP/USD now faces the next support at 1.2250 – UOB By pabspiovano GBPUSD Currencies Majors Banks
24-hour view: “We highlighted yesterday that ‘the rapid rise appears to be overdone’ but we were of the view that GBP ‘could advance to 1.2660 first before easing’. GBP subsequently rose to 1.2637 before staging an abrupt sell-off that sent it nose-diving to a low of 1.2325. While deeply oversold, the weakness in GBP has scope to extend to 1.2300 before stabilization is likely . Resistance is at 1.2420 followed by 1.2460.
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