GBP/USD Technical Analysis: In range consolidation, still vulnerable ahead of the Asian session
|- Price consolidating near daily lows after a sharp decline, not followed by a significant correction.
- Short-term technical indicators offer no clear signals, overall outlook remains bearish with price holding under 1.3200
- Bearish pressure ahead of the Asian session likely to intensify with a slide under 1.3160.
- To the upside, above 1.3180, it could trigger a rally to the strong resistance 1.3200/10; a follow-through above not favored at the moment.
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Current Price: 1.3171
Daily High: 1.3274
Trend: Bearish
Resistance
R1: 1.3186 (Indraday high)
R2: 1.3225 (June 18 low)
R3: 1.3250 (June 1 low)
Support
S1: 1.3160 (Uptrend line)
S2: 1.3130 (horizontal level)
S3: 1.3080 (horizontal level)
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