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Technical Analysis Based on Breakout – Remain long towards 1.3665

GBPUSD – Flat

Remain long towards 1.3665

Technical Observation:

Recently, Gbp bounced off from the daily support line 1.3138, and is still above it. This is a bullish dominance and signals that the bulls are in complete control. Unless the price clearly breaks below the support line 1.3138, I expect a rise towards 1.3665 or even higher to 1.37. On the way upwards, the key lines to look for include 1.3350, 1.3505, and 1.3665. If these lines are broken, then a rise towards 1.37 is expected

Technical Levels

Resistance levels

R1: 1.3235

R3: 1.3262

R3: 1.3336

Pivot

1.3190

Support Levels

S1: 1.3038

S2: 1.3113

S3: 1.316

Trade Signal

Remain long towards 1.3665

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