Chart in Focus: Daily GBPUSD
The GBPUSD reversed all early-session losses today and formed a bullish tailed bar in the process, showing rejection of the 8 / 21 day EMA support layer as we discussed to watch for in this week’s weekly price action preview. We could see more bullish price action from today’s bar and perhaps another leg higher in the uptrend. If price rotates lower, we will look for a buy signal from support levels further down as we are bullish biased on this market right now.
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