GBP/USD
formed what appears to be a double bottom on the four-hour time frame, then
formed a doji candlestick on the one-hour time frame. Unsurprisingly, the pair
started moving to the upside. It is currently testing the resistance at 1.4340 and a breakout above that level would indicate that the pair will continue rising
towards the next level of resistance at 1.4400. 1.4400 is a pretty strong
resistance, so whether the pair will manage to break above it or not is
debatable, but if it does I wouldn’t be surprised to see a further move to the
upside towards 1.4580 – 1.4600.
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