On the bearish side of the short-term setup in GBP/USD, we have a hold of that resistance around 1.3304. This can open the door for bearish strategies with stops above last week’s swing-high, targeting a return to 1.3200 for a better than one-to-one risk-reward ratio.
GBP/USD Daily Forecast - 26 June
Sterling was initially pushed lower in the course of the yesterday’s session but found some amount of support around 1.3220 level and managed to rebound in order to finish the session around 1.3280 area. At this stage, there are short-term setups on either side of the pair; but from a longer-term perspective, traders will likely want to wait for a re-test of the key zone of prior support that runs from 1.3447-1.3500 before plotting bigger-picture entries.
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