GBP/USD remains under pressure GBP/USD continues to trade along its upper downtrend channel line at $1.2415, which now acts as resistance, while the
GBP/USD remains under pressure
GBP/USD continues to trade along its upper downtrend channel line at $1.2415, which now acts as resistance, while the 55-day SMA at $1.2380 provides support, along with last week’s low at $1.2361.
A potential slip through this level could find further support around the early January low at $1.2353, the mid-January high at $1.2307, and last Monday’s low at $1.2250.
Significant resistance remains between the late January high at $1.2524 and last week’s peak at $1.2550.
GBP/USD daily chart
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