The GBP/USD pair crashed in the short term and now it has reached a major demand zone. It’s located at 1.2088 at the time of writing. After such an impressive sell-off, a rebound is natural. Still, the fundamentals should move the rate today. The ECB and the US Advance GDP represent high-impact events.
Technically, the GBP/USD pair reached the major demand zone from above the 1.2052 historical level. The price action developed a Falling Wedge pattern. A valid breakout through the downtrend line may announce a new leg higher.
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