Thursday, October 15, 2026

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FxWirePro: GBP/USD faces strong resistance round 1.2560, good to sell on rallies

Major resistance – 1.2552 Cable has formed temporary around 1.2552 and declined sharply from that level. It is currently trading around 1.23800. On the lower side, any break below 1.23800 will drag the pair down till 1.2…

By FxWirePro Team
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FxWirePro: GBP/USD faces strong resistance round 1.2560, good to sell on rallies
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  • Major resistance – 1.2552
     
  • Cable has formed temporary around 1.2552 and declined sharply from that level. It is currently trading around 1.23800.
     
  • On the lower side, any break below 1.23800 will drag the pair down till 1.2350 (100- day 4H MA)/1.2328 (200- day MA)/1.2280.
     
  • The top formed today might be acting as short term resistance and any break above targets 1.2665 (50% retracement of 1.34461 and 1.19048)/1.2700.

    It is good to sell on rallies around 1.2435-1.24440 with SL of 1.2556 for the TP of 1.2285   

                               

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By FxWirePro Team