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GBPUSD advances above 200-day SMA
GBPUSD has successfully jumped above the 200-day simple moving average (SMA) with the next crucial obstacle coming from the short-term downtrend line and the 50-day SMA around 1.2590. Technically, the MACD oscillator is still developing with weak momentum above its trigger line and below the zero level, while the stochastic is extending its upside movement towards the overbought region after the bullish crossover within its %K and %D lines. If the market overcomes the diagonal line, immediate resistance could be faced from the 1.2630 barricade ahead of a test of the 1.2708 mark. However, the broader outlook would ... (full story)