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GBPUSD broke out of long term resistance, potential rise!

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
ICmarkets Broker  
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns GBPUSD GBP USD gbpusdlong gbpusdshort Forex forexsignals BTCUSD Bitcoin (Cryptocurrency)
92
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trendanalysis harmonicpatterns chartpattern gbpusd gbp usd gbpusdlong gbpusdshort forex forexsignals btcusd bitcoin
GBPUSD broke out of its long term descending pullback support line and is currently testing our major resistance level at 1.3995 (horizontal swing high resistance, 50%, 78.6% Fibonacci retracement , 100% Fibonacci extension ). A breakout of this level could push price up to our next major resistance at 1.4070 (horizontal swing high resistance, 61.8% Fibonacci retracement , 100% Fibonacci extension ).

RSI (34) is also showing a bullish exit at 60% and is a good precursor for a potential rise in price.

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