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GBPUSD tests key resistance for fresh bullish momentum
GBPUSD is testing the 1.3000-1.3080 area, where a broken long-term descending trendline stretched from the 2015 highs happens to be, following the strong rebound at the bottom of the ascending channel and near the 200-day simple moving average (SMA). The pair is also making an attempt to extend beyond its 50-day SMA as the RSI and the MACD are flashing a bullish bias, with the former running above its 50 neutral mark and the latter improving above its signal and zero lines. For the bulls to get fresh fuel and reduce the case of a downtrend though, the price should close above 1.3080. In this case, the spotlight will ... (full story)