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FxWirePro: GBP/USD ventures higher, critical resistance lies ahead

• GBP/USD strengthened on Wednesday as the dollar weakened due to a lack of clarity regarding President Donald Trump's plans for tariffs.

•  Trump's tariff threats on the EU and China remain, though relief emerged as investors had expected them in his initial executive orders.

• Trump's policies on immigration, taxes, and tariffs could boost growth but also raise inflation. However, his more cautious tariff approach has eased concerns about high inflation risks.

• At GMT 10:53 the pair was trading up 0.21 percent  at 1.2369.

•   Immediate resistance is located at 1.2433( 50%fib), any close above will push the pair towards 1.2500 (Psychological level)

•  Strong support is seen at 1.2313(38.2%  fib) and break below could take the pair towards 1.2234 (Jan 21st low).

  Recommendation: Good to buy  around 1.2360 with stop loss of 1.2280 and target price of 1.2430

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