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November 25, 2024

GBP USD Rallies Toward 1.2600 After Hitting Multi Month Lows

The GBP/USD pair opened with a bullish gap as the new week began. Currently, it appears to have broken the streak of three consecutive days below the key 1.2500 mark. The last week, prices dipped to their lowest level since May. However, during the Asian session, prices climbed to the 1.2600 mark. This rise reflects underlying support from a weaker US Dollar. Traders should focus on market reactions and economic data that may affect this currency pair’s trajectory. The outlook remains dynamic as conditions continue to evolve.

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