The rally took the price up to test the Asian session high and the 50% retracement of the decline from the December high at 1.24532. A break above that level triggered further momentum, sending the pair into the key swing area between 1.24739 and 1.2500.
Bullish Breakout: A sustained move above 1.2500 would strengthen the bullish bias and encourage further upside exploration.Bearish Reversal: Sellers looking to fade the move may find 1.2500 a low-risk entry point, with stops on a confirmed break above. For downside momentum to build, the pair would need to fall back below the 50% retracement at 1.2453.
The battle between buyers and sellers is now focused around this key resistance zone, with the next move likely to dictate near-term direction.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about gbpusd extends to the topside target area and above the 50 midpoint buyers in control was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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