GBP/USD: 1-hour
Think the trend is your friend? Then you might wanna take a look at this neat little rising channel forming on GBP/USD’s 1-hour forex time frame. The pair is already testing the bottom of the channel near the 100 SMA, which just crossed above the 200 SMA and indicated that further gains are possible. If so, price could move up to the top of the channel somewhere around the 1.5700 to 1.5750 levels. Stochastic is pointing up anyway, so pound bulls are ready to push for more gains. If pound bears take over, though, GBP/USD could go for a break below the range support around 1.5570 and head further south.
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