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GBP/USD: range-bound; upside bias

   
The pair is in a lengthy sideways consolidation within a short-term bull-trend. There is a major resistance level at 1.5670 which the pair has touched and been repelled by several times, and which if broken, would probably result in a strong move higher.

Nevertheless, the R1 at 1.5712 stands in the way of more upside and so to confirm a breakout to the upside, I would ideally want to see a break above, including a 25 point margin – so above 1.5737 – which would probably lead to a move up to resistance at 1.5785, possibly even R2 at 1.5800 eventually.
GBPUSD10b

   
The pair is in a lengthy sideways consolidation within a short-term bull-trend. There is a major resistance level at 1.5670 which the pair has touched and been repelled by several times, and which if broken, would probably result in a strong move higher.

Nevertheless, the R1 at 1.5712 stands in the way of more upside and so to confirm a breakout to the upside, I would ideally want to see a break above, including a 25 point margin – so above 1.5737 – which would probably lead to a move up to resistance at 1.5785, possibly even R2 at 1.5800 eventually.
GBPUSD10b



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