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I've been trading for 15 years, so I have a lot of things to share. I use the classic technical analysis, which is one of the most powerful tool for any trader.

GBP/USD: consolidation above uptrend line

GBP/USD: consolidation above uptrend line

The price is consolidating near the trend line. Also, we’ve got a “Double Bottom” pattern, which has been confirmed enough. Therefore, bears are likely going to reach a support at 1.2913 in the short term. Meanwhile, if a pullback from this level be on the table, buyers will probably try to catch a resistance at 1.3056 – 1.3089.

GBP/USD: consolidation above uptrend line

There’s a flat, which is taking place between the 34 Moving Average and the uptrend line. So, the market is likely going to get a resistance on the 55 Moving Average in the short term. Considering a possible pullback from this line, there’s an opportunity to have an achievement of a support at 1.2913 afterwards.

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