GBP/USD Poised for Growth but Major Resistance at 1.2850 Looms Large
The Pound Sterling (GBP) shows potential for further appreciation, with expectations of a rise beyond the 1.2805 mark. However, analysts forecast that the significant resistance at 1.2850 may hinder immediate advancements. According to UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann, while the momentum looks promising, traders may need to exercise caution given this resistance barrier. Long-term views suggest that GBP might ultimately test the 1.2850 level, but fluctuations in momentum could affect short-term trading decisions.
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