GBP/USD. June 25th. The bulls returned the pair to the 1.2690–1.2705 zone

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Technical analysis



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Technical analysis


GBP/USD. June 25th. The bulls returned the pair to the 1.2690–1.2705 zone


On the hourly chart, the GBP/USD




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25.06.2024 11:38 AM






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25.06.2024 11:38 AM




On the hourly chart, the GBP/USD pair continued its upward movement on Monday after rebounding from the significant support zone of 1.2611–1.2620. By Monday evening, the price tested the resistance zone of 1.2690–1.2705. A rebound from this zone would favor the US dollar and signal a resumption of decline towards 1.2611–1.2620. If the quotes consolidate above 1.2690–1.2705, it will increase the likelihood of further upward movement towards the next resistance zone of 1.2788–1.2801. The wave situation has shifted slightly.




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