GBP/USD analysis: Limited upward momentum with upside bias

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GBP/USD analysis: Limited upward momentum with upside bias

In the mid-term, the resistance level at 1.3027 is holding buyers at bay. With price above 14, 50, and 100 MA, there is upside bias for now.

Over the long-term, lower directional movement and smaller activity is expected. In conclusion, flow direction is down. Greater activity could presage a limited lower movement, with 3 days net flow at 3. The market ended in non-bracket manner. With increase in volatility means more market opportunities. With value area range increasing and total TPO increasing compared to previous day, data points to downside bias.

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