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GBP/USD targets last Friday’s high
Yesterday’s recovery in GBP/USD leaves the pair at an interesting juncture. The swift retracement after morning losses would seem to suggest that buyers are back in charge, on the back of USD weakness, but while momentum might push us back to $1.44, it will take a real break above here to confirm that the uptrend is back in play.
Possible resistance today at $1.4330 may stem progress, but a break through here still targets the high from last Friday near $1.4450. A drop through support at $1.4230 would head towards $1.4150 and then down to yesterday’s low at $1.4050.