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USD/GBP Hits Huge Highs Today, Approaches 1.40

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If the bulls able to separation the $1.39 price degree because of the candle that is daily above it, the bullish motion may continue and achieve $1.40 and $1.41 prices. Failure to penetrate the opposition amount of $1.39 with all the candle that is daily below the mentioned level may get back the cost to $1.38, $1.37 and $1.36.

GBPUSD is bullish on the perspective that is long-lasting. The bulls were fully accountable for the GBPUSD market without much interruption from the bears. The purchasers continue to gain energy after the consolidation that took place on January 24 – February 04 whenever a bullish candle that is engulfing on the dynamic support levels. The bullish momentum is strong enough to split the resistance amounts up of $1.37 and $1.38. It is currently attempting to split the resistance level up of $1.39.

The 9 durations EMA and 21 periods EMA are pointing to your north because of the cost trading over the two EMAs which suggest strong momentum that is bullish. Should the bulls able to separation the $1.39 cost level aided by the candle that is daily above it, the bullish motion may carry on and reach $1.40 and $1.41 prices.

Failure to penetrate the opposition amount of $1.39 with all the candle that is daily below the mentioned level may get back the price to $1.38, $1.37 and $1.36. The power that is relative period 14 reaches 70 levels aided by the sign line pointing up which suggests a purchase signal.

GBPUSD is bullish regarding the perspective that is medium-term. The bullish momentum continues to improve into the chart that is 4-hour. The cost action has created an ascending channel when the pricing is increasing in the channel. The cost may break the barrier up during the opposition degree of $1.39 since the bullish candle is testing the particular level strongly. If the bulls able to separation the $1.39 price degree then things will change.

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Billy Houghton

Billy Houghton is a top acclaimed and sought-after commodities futures trading expert. The expertise and in-depth level of analysis that is offered by Billy Houghton is what has managed to put him at the stage of being the top ranked author for MetaNews among multiple different categories. Throughout his career, Billy has specifically spent over three decades on Wall Street fine-tuning his skills, which included over two decades at a trading desk. In more recent times, specifically the last decade, Billy has been researching algorithms of AI in futures trading, and believes they are the future of trading.
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