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GBP/USD HIGHLIGHTS:
In relative to confluence, price is currently trading in an ascending triangle on the Daily chart a sign of upcoming bearish reversal if a breakout below lower trend-line boundary. On a larger picture , lies the trend-line from the 2007 high. The key will be whether it can close above it to count as a break.If rejection occur and price fail to breach above 1.350 , we will be looking on a corrective move downside to 1.3400.
On the upside, to really get cable trading higher we need to see a closing weekly candle above 1.350. A close above major horizontal resistance and the long-term descending trend-line could clear a path for much higher prices.The next significant area to keep an eye is 1.42/44.
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