GBPUSD → Retest resistance for a breakout. Distribution?

1 593
GBPUSD is attempting to break through the resistance of the symmetrical triangle consolidation pattern, which is a continuation pattern of the main bullish trend.

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Against the backdrop of stagnation and weakening of the dollar index, the GBPUSD price has stopped updating local lows, and consolidation in the form of a symmetrical triangle is forming. The strengthening of the GBP led to a breakout of the consolidation resistance, and if the bulls can stay above 1.352, then the market may trigger a rally to the resistance at 1.3588, from which a small correction is expected before continuing to grow to 1.378 thanks to motivated buyers.

Resistance levels: 1.3589, 1.3674
Support levels: 1.3524, 1.3446


In the 1.3525 zone, there may be a prolonged struggle for the buying area (above resistance). If the bulls manage to stay above the resistance conglomerate, this will confirm the fact of a resistance breakout and the end of the downward correction, which may trigger a continuation of the global trend and price growth to 1.378.

Best regards, R. Linda!
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