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April, 14 - GBP/USD: aiming the 1.2650 area

The GBP/USD pair already seems to have found acceptance above the 1.2515-20 confluence region.

GBPUSD14042020

Some follow-through strength, beyond the 1.2600 round-figure mark, now looks a distinct possibility. Bulls are likely to aim towards challenging 100-day EMA resistance near mid-1.2600s, above which the pair seems all set to extend its recent strong recovery move from 35-year lows set on March 20.

On the flip side, any meaningful pullback might still be seen as a buying opportunity near the 1.2500 mark and should help limit the downside near the 1.24850 resistance break-point.

Lang

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