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FxWirePro: GBP/USD pushes recovery envelope from nine-month low

• GBP/USD rose sharply  on Monday  as dollar fell on report of  narrower tariffs.

• Media  report showed President-elect Trump is reportedly considering tariffs limited to critical imports, offering potential relief to countries fearing broader measures.

•Expectations of sweeping tariffs under Trump, potentially impacting global economies, have weighed on foreign currencies like the euro ,pound .

 • At GMT 12:20, The British pound  was last  trading up 1.03% at $1.2540 to dollar.  

•   Immediate resistance is located at 1.2415(Daily high), any close above will push the pair towards 1.2487(50%fib)

•  Strong support is seen at 1.2357(23.6%fib) and break below could take the pair towards 1.2323(Lower BB).

  Recommendation: Good to buy around 1.2520, with stop loss of 1.2430 and target price of 1.2650

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