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GBPUSD breaks nearby resistance, but a stronger rally needed
video GBPUSD is gaining momentum within the 1.3800 area and above the red Tenkan-sen line, which kept the bulls under control over the past few weeks, marking its third consecutive green day. The technical indicators endorse the ramping positive traction in the price. The RSI has bottomed in the oversold area and is set to print a new higher high, while the Stochastics is also making its way above its 20 oversold level. Adding to the encouraging signals is the MACD, which is pivoting towards the positive zone. However, whether the latest rebound is just a correction in the short-term downward path, which paused near ... (full story)