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GBP/USD: Eyes Breakout
The cable rallied a bit during the trading session on Friday to break above the crucial 1.27 level. However, we have seen a little bit of pushback. So, this is what I call a holding pattern in the Forex world. We've broken out. And once you see this candlestick alarm bells should be ringing because we now see that there is a significant amount of resistance above. So, it'll be interesting to see if we can go higher from here. If we can sustain and move above the top of this candlestick, then I think you do have a rally just waiting to happen, probably for about another 125 pips, maybe 150 pips from there. On the ... (full story)