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FxWirePro: GBP/USD rebounds, critical resistance lies ahead

• GBP/USD rose sharply  on Friday as the pound rebounded against greenback on holiday-shortened week.

• Investors' focus in the new year will be on President-elect Donald Trump's return to the White House, as investors remain uncertain whether Trump could extend his tariff threats to Britain as well..

• The focus will also remain on the Bank of England's pace of interest-rate cuts, with the central bank already suggesting a gradual pace for its policy-easing cycle. 

• Immediate resistance is located at 1.2593(Daily high), any close above will push the pair towards 1.2632(38.2%fib).

•Support is seen at 1.2500(23.6%fib) and break below could take the pair towards 1.2471(Lower BB).

Recommendation: Good to buy around 1.2540 with stop loss of 1.2400 and target price of 1.2630

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