Fxwirepro: Gbp / usd has encountered strong resistance 1.2520, it is better to sell on rally
- Key resistance - 1.2520
- The pair rose sharply to 1.2505 after the release of better-than-expected CPI data on Tuesday.
- The pair ran into strong resistance around 1.2520, any break above which will throw it to 1.2580. To further jump up to around 1.27060, currency tandem need to break above 1.25820.
- On the lower side, a pair of support near broken nearest 1.2450, any breakthrough below aims at 1.24099 (23.6% correction 1.2109 and 1.25059) / 1.2345 / 1.2320 in the short term.
- Sales within 1.71796 1.19048 and may stop only in case of breakdown level above 1.2780.
It is recommended to sell on rallies near 1.2465-1.2470, with the stop-loss level of 1.2520, and take profit 1.2400 / 1.2345.
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