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GBPUSD News

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Last Updated Date: 26 September 2023 @ 7:40 AM (UTC)
*Please note that all the dates are in GMT time zone

The British Pound depreciated to the 1.2180 level, reaching its lowest point since mid March and showing its worst monthly performance in a year time, as the Bank of England paused rate hikes.

Being in a descending channel since September 5 along with its 9 days oversold status, the GBPUSD must make a minor correction up and holds potential for a quick move 1.2274 - 1.2330 as well as 1.2370. Trade is positioned for 
pressing rallies the next few days. 

Resistance 2     1.2274
Resistance 1     1.2232

  

Support 1          1.2190
Support 2          1.2150







 
Chart

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RISK WARNING

CFDs are complex instruments that come with a high risk of losing money rapidly due to leverage. Whilst leverage enables traders to magnify their profits on successful trades, it is still possible for significant losses to occur; around 78% of retail investor accounts lose money when trading CFDs.
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