Lingrid

GBPUSD GROWTH after false breakdown

Long
FX:GBPUSD   British Pound / U.S. Dollar
In February of this year, the price reached a strong resistance zone of 1.416 at the point where the resistance lines of 2018 and 2013 intersect. It is this resistance that is the basis of the downward price turn. During the fall, the price broke through the resistance line 1.382, but then stopped at the support line formed in April 2020.

For the past few weeks, the price has been moving between this support line and the January 2019 resistance line. Last week, the price made a false breakout of the support line at 1.373. However, she has already returned to the line. I expect that after fixing on the line, the price will start a new rise. So my final target is the 1.388 resistance line.

Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩‍💻

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