GBPUSD Intraday Analysis

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GBPUSD (1.3124): The GBPUSD currency pair managed to clear the resistance area of 1.3058 – 1.3132. However, price action is seen to be consolidating strongly just above this level. This could potentially signal either a continuation to the upside in which case the GBPUSD will target 1.3234. Alternately, a break down below the support level could indicate a move back to the downside which could retrace some of the gains made recently.