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The bulls gaining traction and look to test some key areas of resistance.
Trade strategy:
- Close half position at target (1.65500)
- Close full position at target (1.66500)
- Close and reassess if price breaks trendline below entry
GBPAUD has broken out of the current triangle formation.
Trade strategy:
-Take profit at target (1.83150)
- Stop loss at 1.81450
- Be prepared to close early if needed
EUR bulls look to hold the pair above 1.13000 after a break out and retest of the recent descending channel on the 1h chart.
Trade strategy:
- Close half position at target (1.13400)
- Close full position at target (1.13800)
- Close and look for re-entry if bears convincingly take price below 1.13000
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Always conduct your own analysis before...
The 200 SMMA is continuing to serve as a resistance on the 1h chart and bull momentum is slowing.
Trade strategy:
- Close half position at target (1.28550)
- Close full position at target (1.27800)
- Close and look for re-entry if price breaks above the trend line