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GBPUSD shows bullish attitude
GBPUSD has been gradually rising since posting a double bounce near the 1.2615 area, exiting the one-month-old bearish channel recently. The pair opened above the constraining 20-day simple moving average (SMA) on Tuesday and is currently trying to extend its upleg above the 50-day SMA at 1.2790. This area provided strong resistance earlier this month, while the broken support trendline from October 2022 could add another potential threat within a short distance. Note that the 23.6% Fibonacci retracement of the 1.1800-1.3141 upleg is positioned in the same location at 1.2823. Strikingly, the 50-period SMA in the ... (full story)