Cabana Capitals Blog Technical Analysis Either a rebound or a breakout imminent on GBPUSD

Either a rebound or a breakout imminent on GBPUSD

April 29, 2024April 29, 2024| cabana-admincabana-admin| 0 Comment| 11:16 am
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GBPUSD is heading towards the resistance line of a Rising Wedge. If this movement continues, the price of GBPUSD could test 1.2563 within the next 2 days. It has tested this line numerous times in the past, so this movement could be short-lived and end up rebounding just like it did in the past.

Supported by Upward sloping Moving Average

Target: 1.2563 Entry: 1.251 Stop: 1.2449

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