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Technical Analysis – GBPUSD _ 25-03-2019

HomeTechnical AnalysisTechnical Analysis – GBPUSD _ 25-03-2019
25
Mar
Technical Analysis – GBPUSD _ 25-03-2019

The pair ended the trading session last Friday on the upside after receiving support from the bullish trend line shown on the 4 hour chart, breaking the resistance 1.3340 (the first objective of the bullish scenario that has been achieved) may push the price to further rise towards the second target level at 1.3480 resistance and then the level 61.8% of the general bearish wave around 1.3630 as a third target.
A breach of the uptrend line, which is confirmed by a four-hour closing below 1.3000, might be enough to end the bullish scenario, and the pair could then head to test support at least 1.2780.

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