The GBPUSD races higher but is stalling near a swing area ceiling. What next?
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The GBPUSD currency pair experienced fluctuations, initially testing a swing area between 1.3446 and 1.3465 before buyers pushed the price higher. The Bank of England maintained steady rates, with one member advocating for a hike. As the North American session began, the pair hovered around key moving averages, indicating indecision. A breakout occurred above 1.35345, driving the price towards a swing area between 1.3575 and 1.35985. The market has tested both ends of the range, with buyers currently having the edge. A break above 1.3600 could lead to further gains, while failure at resistance may push prices lower.
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