After the Bank of England hiked the interest rate last week ( May 11 2023) from 4.25% to 4.50%, GBPUSD bulls broke the 1.2450 resistance where it had been consolidating for almost one month. The bulls faced more resistance at 1.2700 price zone which is resistance from May- June 2022. If the market breaks this resistance, expect a strong bull run in the next few months.
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