The GBP/USD chart indicates a bullish trend as the price is moving upwards. Here are some key points from the chart:Support Levels: The significant support level around 1.23180 has been tested multiple times, showing strong buyer interest at this level.Resistance Levels: The resistance level at 1.28400 is a critical point where sellers may enter the market, potentially halting the bullish momentum.Trend Line: The upward trend line starting from the recent low in early May indicates a consistent upward movement, reinforcing the bullish outlook.Current Price Action: The price is currently approaching the resistance level at 1.28400. If it breaks this level, it could signal further bullish momentum. However, a failure to break this resistance might lead to a pullback.Overall, the current technical indicators suggest a positive outlook for GBP/USD, but caution should be exercised around the resistance level at 1.28400.
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