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GBP/USD dips may be an opportunity to buy
The pair has spent the past two weeks building a base above $1.2950, and now it has succeeded in pushing back above $1.30. We would look to see a further move higher, in the direction of the 50-day simple moving average (SMA) at $1.3135, with some initial resistance at yesterday’s highs at $1.3058. It would need a move below $1.2950 to indicate weakness is ahead, so any dip that holds above this level could be treated as a fresh buying opportunity.