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GBPUSD pulls back from 15-month peak; bullish structure holds
video GBPUSD has been in a prolonged uptrend since October 2022 supported by its long-term ascending trendline. Last Friday, the pair stormed to a fresh 15-month high of 1.3141 before paring some gains, but it is still too early to call this a downside correction. However, the momentum indicators are holding well within their overbought territories, hinting that the recent pullback could extend. Specifically, the stochastic oscillator is negatively charged within its 80-overbought territory, while the RSI remains directionless in overbought conditions. If the bears manage to push the price lower, the crucial 1.3000 ... (full story)