GBP/USD Weekly Outlook

Despite dipping to 1.1801, GBP/USD quickly quickly rebounded after drawing support from 1.1840. Initial bias stays mildly on the upside this week. Sustained trading above 55 day EMA (now at 1.2052) will argue that consolidation pattern from 1.2445 has complete. Further rally would be seen back to retesting 1.2445/6 resistance. Nevertheless, below 1.1937 minor support. […]

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