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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