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GBP/USD update (21st April 2017, 12:00)

GBP/USD consolidates ahead of next move.

GBP/USD consolidates ahead of next move.

GBP/USD is trading within a symmetrical triangle pattern, following a sharp appreciation earlier in the week. Crucially, we have seen the bottom of this triangle come in at $1.2775, which marks the key historical resistance level from December 2016.

Essentially, while the expectation is for another leg higher from here, a signal of the next move will come with an hourly close above $1.2859 (bullish) or below $1.2775 (bearish).


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GBP/USD update (21st April 2017, 12:00)

GBP/USD consolidates ahead of next move.

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