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GBP, Technical Analysis, Dollar

GBP Advancing Against USD

Adel 16 November, 2020 10:59 am Daily Technical Analysis, Technical Analysis

Positive trading dominates the pound against the US dollar after it managed to break 1.3175.

On the technical side, we find the 50-day moving average holding the price, as we find the pair continues to get bullish momentum from the RSI. As long as trading remains above 1.3140 / 1.3120, the bullish bias is likely today, targeting 1.3275 as a first target, knowing that breaching it extends the pair’s gains towards 1.3310.

Trading below 1.3120 is able to negate the suggested bullish scenario and lead the pair to a downside targeting 1.3065 and later extending towards 1.3020.

S1: 1.3140 R1: 1.3270 
S2: 1.3065    R2: 1.3310 
S3: 1.3020   R3: 1.3390   

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