fxstrategist
Corporal
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Will the GBP/USD keep rallying? The GBPUSD accelerates its bullish momentum and rises more than 200 pips to reach the 1.3000 level where we can find the 55 day EMA. Due to the strong rally, it is possible for the GBPUSD to correct to the downside amid some profit taking. But the bullish momentum is still strong and the pair may continue higher. To the upside, its next resistance could be the 200 day EMA around the 1.3193 level. To the downside, the nearest support is at the 1.2900 level, followed by the 1.2800 level.