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MarcellusLUX
Apr 13, 2021 9:27 AM

A resumption in uptrend for GBP/USD is possible now Long

British Pound/U.S. DollarFXCM

Description

Overview- GBP/USD is slowly consolidating in the support area now. Therefore,
there is a good chance that the uptrend may resume soon

Analysis - From the chart you can see that bullish candlesticks have formed at the
support level. Price is also clearly above the 100 DMA which means uptrend is still intact. A
possibility in resumption of uptrend towards 1.40 is growing.

Probable trade set-up - Based on this, a buy at 1.3730 with SL below 1.3650 and
TP at 1.40 is a possible buy signal.

Disclaimer - This is simply an analysis and not a trade recommendation. The trades will be
executed only if it meets the required criteria.

Comments
YMGroup
as always good analysis
MarcellusLUX
@YMGroup, Thank you :)
Babenski
looking logical Analysis
MarcellusLUX
@Babenski, Thanks :)
emillyricci
Very good analysis
MarcellusLUX
@emillyricci, Thank you :)
KlejdiCuni
Very good Idea. Thank you!
MarcellusLUX
@KlejdiCuni, Thanks a lot :)
JayaFxTrading
Nice chart. Your work is nice to watch always
MarcellusLUX
@JayaFxTrading, Thank you so much :)
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