GBP/USD Price Report Market Update

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1. This Week’s Price Recap


The British Pound (GBP) demonstrated strong bullish momentum against the US Dollar (USD) on the 15-minute chart. A significant rejection at key levels triggered a sharp rally, breaking major resistance zones and reinforcing the pair’s upward trajectory.


2. Major Key Price Level  1.26082


During the rally, the price level of 1.26082 played a crucial role as a major resistance point. This level served as both a target for the bulls and a potential catalyst for a reversal. The market saw a reaction at this level, leading to increased volatility.


3. Upcoming Week Outlook Bearish Bias


After testing and breaking the key price level, GBP/USD has started showing signs of rejection. The current trend suggests a bearish sentiment, with expectations of further declines in the coming week. Traders should watch for potential downside movements as the market reacts to these developments.


4. Execution and Key Price Levels


A key price target for the pair is 1.21361. Market sessions to watch include the Asian and London sessions, with a particularly strong bearish outlook for the London session. Traders should monitor price action closely for potential short opportunities.


Stay tuned for further updates as GBP/USD continues to react to key market levels.


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