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GBP/USD: Pair Could Climb

By AAATrade LTDForexJan 17, 2022 05:17AM ET
www.investing.com/analysis/gbpusd-pair-could-climb-200614947
GBP/USD: Pair Could Climb
By AAATrade LTD   |  Jan 17, 2022 05:17AM ET
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Looking at the GBP/USD weekly chart, we can see its steady climb from the 1.3525 support level on Jan. 11, breaking out from the resistance level found at the 1.364 price range early on Jan. 13, rallying well into the 1.372 range and reaching as high as 1.375.

However, after being unable to hold on to the 1.3725 range and consolidate, it retracted and moved close to its support level of 1.365. It was last found trading at 1.368.

Today, we could expect a continuation of the pattern and another slow climb towards the 1.3725 as it temporarily managed to hover above the 1.365 support level.

However, if it doesn’t manage to hold on to the current level and consolidate, we could expect a move towards the 1.363, below the support.

GBP/USD weekly chart.
GBP/USD weekly chart.

GBP/USD: Pair Could Climb
 

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GBP/USD: Pair Could Climb

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