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Technical analysis:
GBP/USD has been trading upside as I expected and the price has reached our second upside objective at the price of 1.2300. Anyway, due to the strong upside momentum in the background, I see potential for further upside movement.
Trading recommendation:
Due to the strong upside pressure in the background and bull flag pattern in creation, I see potential for further growth.
Watch for the potential buying opportunities on the intraday dips with the next main upside objective at 1.2450-1.2500
MACD oscillator is showing fresh upside momentum, which is strong sign that buyers are in control.
Key support is set at the price of 1.2225
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