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FX.co ★ GBP/USD violated 1.2540 upside obstacle

GBP/USD violated 1.2540 upside obstacle

GBP/USD violated 1.2540 upside obstacle

GBP/USD reversal

The GBP/USD pair registered an amazing growth in the short term. It was located at 1.2555 at the time of writing. After jumping above the downtrend line, the price was expected to come back higher, an upside reversal was favored.

It has moved somehow sideways in the short term, trying to attract more buyers before resuming its growth. Now, it has passed above the former high of 1.2540 which represents an upside obstacle.

GBP/USD trading conclusion

Stabilizing above 1.2540 obstacle may announce an upside continuation and is seen as a buying opportunity.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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