GBPUSD (1.4729)
GBPUSD manages to break above 1.4700 level yesterday and the movement seems to continue towards 1.4885 level. Around 1.4900 level, we will see GBPUSD tested by weekly resistance as well as GBPUSD will be touching long term Moving Average. If GBPUSD manages to break above 1.4900 level, then the long term upward trend will be confirmed and we will be looking at only buying GBPUSD after that. Currently traders will look to buy GBPUSD for targets around 1.4885 level and once GBPUSD gets there, aggressive traders might opt to sell with stop and conservative traders might choose to stay back and let GBPUSD settle on its trend.
TRADE:
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