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GBP/USD - Bearish confirmation or bullish breakout?
The pound has reached an interesting level against the dollar, one that could determine whether the pair is back in bullish territory or the end of a correction. The pair found strong support around the 200/233-day SMA band a couple of weeks ago and has rebounded strongly since. This came after it broke below the 55/89-day SMA band in mid-June, which had been a reliable level of support over the last year. charts The pair now finds itself running at the 55/89 band from below, which will be an interesting test of the strength of the breakout. A rebound off this level would act as confirmation of the breakout. With ... (full story)