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Onwards and upwards for the GBP/USD as it sets a new 2024 high (corrected)
The GBP/USD has just now risen to hit a new 2024 high at 1.3229. The move higher comes amid a mix of drivers. The EUR/GBP is hitting a fresh low on the week below 0.8450 and the GBP/JPY remains elevated, even as the USD/JPY just now drops back underneath 145 again. So, both those dynamics are delivering price discovery back into the GBP/USD. The move higher in the GBP/USD has nothing in front of it save the already noted 2022 high, at 1.3298. As to whether it will push to test that from here on remains to be seen, but technically (as noted a few times already) there is noting standing in the way of it doing so. The GBP/USD is currently trading at 1.3226
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