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GBP/USD Bullish Above 1.5620

GBP/USD Bullish Above 1.5620

GBP/USD has been trading inside an equidistant channel which supports the uptrend zig zag. The price has been making higher highs and higher lows which is showing us a scholastic example of uptrend. At 78.6 Fib deeper retracement there is a strong confluence with equidistant channel lower trend line, so the price might get a bounce in the zone (1.5670-85) and try another push toward 1.5740 and 1.5780. That being said, if the price gets H4 close above cam H4 level (1.5780) it will target 1.5855, the confluence spot of H5 and upper equidistant channel.

The bullish bias should persist as long as GBP/USD is above 1.5620.

GBP/USD 4-Hour Chart

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