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GBP/USD Rebounds and Tests Resistance at 1.2050 Within Rising Triangle, Upside Potential Limited
If successful, the cable pair will overcome the past Wednesday’s swing high at 1.2090 and 1.2100 before reaching the two-week-old horizontal resistance level at 1.2145-50. However, if the lower line of the triangle, now approaching 1.2025, is breached, GBP/USD bears would need confirmation from the 200-HMA level at 1.2015 to sustain a downtrend.
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