who dares wins
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GBPUSD jumps higher as ascending trend line looks supportive
GBPUSD is continuing yesterday’s rebound on the medium-term ascending trend line, which has been standing since December 2018 and at the same time confirming another touch at the 38.2% Fibonacci retracement level of the upleg from 1.2390 to 1.3380, around the 1.3000 key level. The short-term bias looks positive as the RSI keeps gaining ground slightly below the neutral threshold of 50. The 40- and then the 20-day simple moving averages (SMA) currently near the 23.6% Fibonacci mark of 1.3150 could be a trigger point for steeper bullish action before meeting the 1.3200 psychological level. Higher, resistance could be ... (full story)