GBPUSD resumes the main upward trend
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GBPUSD 4H NEW FORECAST
The price of the pound sterling against the dollar achieved a strong breach of the resistance of the descending channel that appears in the chart, heading towards resuming the main upward trend, on its way to achieving positive targets starting at 1.2880 and extending to test the 1.3000 barrier mainly.
Therefore, we expect to witness further rise in the coming sessions, supported by a move above the moving average 50, keeping in mind that breaking 1.2745 and then 1.2695 will stop the proposed upward trend and put pressure on the price to begin a downward correction in the intraday term.
Timeframe: 4H
GBPUSD 4H NEW FORECAST
The price of the pound sterling against the dollar achieved a strong breach of the resistance of the descending channel that appears in the chart, heading towards resuming the main upward trend, on its way to achieving positive targets starting at 1.2880 and extending to test the 1.3000 barrier mainly.
Therefore, we expect to witness further rise in the coming sessions, supported by a move above the moving average 50, keeping in mind that breaking 1.2745 and then 1.2695 will stop the proposed upward trend and put pressure on the price to begin a downward correction in the intraday term.
Timeframe: 4H
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