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GBPUSD gets bullish vibes within range
GBPUSD has been consolidating between the 20- and 200-day simple moving averages (SMAs) for more than a week, but the pair is now looking ready for a bullish breakout above the latter. Although somewhat flattish, the market structure remains positive, with the price printing higher highs and higher lows following the rebound from the 35-year low of 1.1409. The momentum indicators are also in favor of the bulls as the RSI is rising comfortably above its 50 neutral mark and the MACD is regaining strength above its red signal line. Should the pair surpass the 200-day SMA, closing above the 1.2750 barrier too, traders ... (full story)