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GBPUSD faces symmetrical triangle; broader trend is bullish
video GBPUSD is lacking direction over the last five weeks, creating a symmetrical triangle in the short-term after reversing from the 14-month high of 1.3515. When looking at the bigger picture, the pair has a clear bullish trend since September 2019 but technical indicators are confirming the recent neutral mode. The RSI is declining slightly below the 50 neutral level, while the MACD oscillator is failing to strengthen its momentum near the zero line. Currently, the price is hovering below the 20- and 40-simple moving averages (SMAs) and is heading towards the lower boundary of the triangle around the 1.3000 ... (full story)