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GBP/USD pulled back on Tuesday after Monday’s strong bounce from the 1.3510 low, closing at 1.3641, down 0.39% on the session.
💡 DMK Insight
GBP/USD’s recent pullback from 1.3641 signals potential volatility ahead. After bouncing off the 1.3510 low, the pair’s decline could indicate profit-taking or a shift in market sentiment. Traders should consider that this level has been a pivotal support in recent sessions, and a sustained break below could open the door to further declines. Watch for any economic data releases or geopolitical events that might influence the pair’s direction. Additionally, keep an eye on correlated assets like the EUR/USD, as movements in one often impact the other. If GBP/USD can reclaim the 1.3700 mark, it might signal renewed bullish momentum, but until then, caution is warranted as the market digests this pullback.
📮 Takeaway
Watch for GBP/USD to hold above 1.3510; a break below could lead to further declines, while reclaiming 1.3700 might signal a bullish reversal.
