GBPUSD is still trying to reverse the long-term downtrendÂ
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GBPUSD is rejected again from 1.4190 uspide long-term resistance horizontal and is yet to break above. We need to see a breakout above this level with the confirmation for an extension higher and a complete long-term downtrend reversal.
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On the weekly chart, we can see that GBPUSD is strongly supported by the uptrend and support line that was broken to the upside 1.41000. This could lead to a massive breakout higher incoming. Only a significant break below 1.4100 could lead to an upside extension invalidation.
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On a daily chart, we can see an ascending rectangle Already a member? This article is so good, it’s for premium members only.
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