BUY TREND in GBPUSD market,Breakout downtrend & resistance level
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๐ GBPUSD Price Forecast ๐
GBPUSD has broken out of the downward trendline, completed a retracement, and successfully broke above the 200 EMAโa strong bullish signal! ๐ GBPUSD Currently, the pair has also broken through a strong resistance level, which has now turned into support. A minor retracement to this support level is expected before the next bullish rally towards our target levels.
๐ฏ Technical Target Levels: 1.2730, 1.2754, 1.2810, 1.2860, and 1.2990.
๐ Key Highlights:
- Downward trendline breakout confirmed. - 200 EMA breakout signals strong momentum. - Previous resistance now acting as support. โ Stay tuned for more!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.