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Jul 13, 2020
GBPUSD 1.2570 key support
The British pound is trading in a narrow price range against the US dollar currency as traders await a key speech from Bank of England Governor Bailey this morning. GBPUSD bulls need to move price above the 1.2660 resistance level to force a breakout towards the 1.2710 level. A loss of the 1.2570 support area could see the GBPUSD pair quickly fall towards the 1.2500 level.
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If the GBPUSD pair trades above the 1.2610 level, key resistance is found at the 1.2660 and 1.2710 levels.
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The GBPUSD pair is only bearish while trading below the 1.2610 level, key support is found at the 1.2570 and 1.2500 levels.