The GBP/USD pair has shown clear upward momentum, approaching the key resistance level at $1.2735 on December 5, 2024. A breakout above this level could signal a continuation of the bullish trend, potentially driving the pair toward the next target of $1.2866.
However, if the price fails to break above $1.2735 and instead consolidates below it, the bearish scenario would be revived, with the next significant target seen at $1.2566.
The expected trading range for GBP/USD today is between $1.2620 (support) and $1.2780 (resistance).
Trend Forecast: Bearish
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