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September 8th 2021: GBP/USD Bid Between $1.3774 and $1.3787; Possibly Eyes Space North of $1.38
South of ascending support-turned resistance, taken from the low $1.1641, June’s 3.0 percent loss persuaded EUR/USD to retest support from $1.1857-1.1352. A bullish revival shines light on 2021 peaks at $1.2349. Month to date, September trades 0.3 percent higher. Based on trend studies, a primary uptrend has been underway since price broke the $1.1714 high (Aug 2015) in July 2017. Further adding to this, price penetrated major trendline resistance, taken from the high $1.6038, in July 2020. Daily timeframe: Against a basket of six foreign currencies, the US dollar index remained on the winning side of the table on ... (full story)