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GBPUSD: Bullish or Bearish?
The GBPUSD has a lot of traders confused. After breaking below the confluence of support near 1.2980, things looked relatively bearish for the pound. GBPUSD even lost over 100 pips during that February 6th breakdown. However, Thursday’s price action puts the pair back above that 1.2980 level I wrote about on February 5th. I won’t even comment on the fact that GBPUSD faked buyers out on January 31st by gapping lower the following Monday. Although, that scenario wasn’t a total surprise given that I said the February 3rd open would be telling. So, did the pound fake out buyers and sellers in two weeks? Not so ... (full story)