Technical analysis of GBP/USD 01/29/2025

The GBP/USD currency pair is in an upward correction on (1D).

The pair broke through the resistance of 1.2450 (23.6% Fibo), reached the 1.2520 mark and is currently consolidating in the 1.2420 area.

The technical picture suggests the development of an upward correction with a target of 1.2780 (50% Fibo), (MA100), (MA200).

The nearest resistance is the 1.2630 level (38.2% Fibo).

The support is the 1.2150 level area.

Created by Joshua Hayn

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