Thursday, October 15, 2026

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FxWirePro:GBP/USD faces strong resistance at 1.2300, good to sell on rallies

Major resistance – 1.23000 ​Major support – 1.2200 Cable recovered slightly from the low of 1.22005 till 1.2270 level at the time of writing. It is currently trading around 1.22667. Short term trend is bearish as long as…

By FxWirePro Team
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FxWirePro:GBP/USD faces strong resistance at 1.2300, good to sell on rallies
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  • Major resistance – 1.23000
     
  • ​Major support – 1.2200
     
  • Cable recovered slightly from the low of 1.22005 till 1.2270 level at the time of writing. It is currently trading around 1.22667.
     
  • Short term trend is bearish as long as resistance 1.2300 holds.
     
  • On the higher side, any break above 1.23000 will take the pair to next level till 1.2385/1.24350.
     
  • The major support stands at 1.2200 and any violation below that level will drag the pair down till 1.2150/1.2080 level.

    It is good to sell on rallies around 1.2255-1.2260 with SL around 1.2300 for the TP of 1.2150/1.2080. 

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By FxWirePro Team