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Rookie-FXtrader
May 16, 2021 12:12 PM

GBPUSD long in Demand zone H1 

British Pound/U.S. DollarFXCM

Description

GBPUSD long in Demand zone H1

follow trend
follow momentum
Comments
shahzaib70
That's cool
ForexTrendline


Good analysis, This is how we see the situation.

GBPUSD is currently in an uptrend reaching the 1,4167 a few days ago.

This is a serious resistance for price and that's why we saw a correction.
Now it looks like there will be another try for a breakout.

As of right now we could look for entries with the idea for a retest of resistance,
and then we will follow price action to see if it will actually breakout.

The weak USD expectations confirm the possibility of a breakout.
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