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FxWirePro: GBP/USD claws back some losses but recovery muted

• GBP/USD edged higher on Tuesday  as  investors searched for signs of respite in an ongoing global trade war.

• Indications that countries such as Japan, UK and Europe,  Israel were looking to negotiate trade deals with the United States further provided impetus for risk taking.

• British Prime Minister Keir Starmer stated on Monday that his government’s initial response to higher tariffs imposed by U.S. President Donald Trump should not be to ease public borrowing rules.

• On Monday, the European Commission announced that it had proposed a "zero-for-zero" tariff deal in an effort to prevent a trade war, as EU ministers agreed to make negotiations a priority.

•   Immediate resistance is located at 1.2802(Daily high), any close above will push the pair towards 1.2926(38.2%fib)

•  Strong support is seen at 1.2703(50%fib) and break below could take the pair towards 1.2575(61.8%fib).

  Recommendation: Good to buy  around 1.2730, with stop loss of 1.2650 and target price of 1.2800

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