GBP/USD Faces Major Resistance at 1.2900; Outlook Remains Positive
The rapid rise of GBP/USD appears to continue, but analysts from UOB Group caution that the next major resistance level is likely out of reach at 1.2900. They highlight that, despite potential upward pressures, the Pound Sterling (GBP) faces challenges against the US Dollar (USD).
Long-term indicators suggest that risks for GBP remain favorably positioned above current levels, but trading strategies should account for possible resistance ahead. Traders need to tread carefully as market dynamics unfold, factoring in the potential for shifts in trading sentiment.
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