GBP/USD: 4-hour
Watch out, pound bulls! GBP/USD just broke below the ascending trend line connecting the lows on the 4-hour forex chart, indicating that a reversal might take place. If so, the pair could move south until the next area of interest around the 1.5000 major psychological level or all the way down to those lows at 1.4500. However, if this all just proves to be a fakeout, GBP/USD could still resume its climb and possibly surge past the previous highs at the 1.5800 major psychological level. Stochastic is already in the oversold area but hasn’t crossed up yet, which means that sellers might still be in control.
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