The GBP/USD is showing positive movement, testing the key resistance level at $1.2615 and attempting to break through it. This creates a cautious outlook for the upcoming trading sessions. A confirmed break above $1.2615 would signal a continuation of the upward trend, with the next target at $1.2735. However, if the price fails to sustain above this level and consolidates below it, the bearish momentum may reassert itself, with the next target at $1.2505.
As such, we recommend adopting a neutral stance until the price confirms its position relative to the $1.2615 level, which will help determine the next direction.
The expected trading range for today is between $1.2500 support and $1.2690 resistance.
Trend Outlook: Neutral
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