GBPUSD could be on the verge of a massive bull run.
I wrote about the twenty-year falling wedge on October 29th.
GBPUSD monthly time frame
The structure above hints at a bullish reversal for the pound.
That isn’t surprising given what we’ve seen from other major currency pairs in recent months.
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However, GBPUSD buyers still have work to do.
The pair needs to secure a weekly close above wedge resistance near 1.3340.
I’d also like to see GBPUSD buyers take out the recent highs at 1.3480.
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Those are the two key resistance levels that need to break to send GBPUSD higher in 2021.
A weekly close above 1.3340 followed by 1.3480 would open the door to the 2018 highs at 1.4350.
I will continue to like the idea of an imminent break higher as long as the May trend line support is intact.
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sir you say your last week posting that USD/JPV will goes downward and meet 101.00 some thing but your prediction is wrong and I have lose some money 200usd. I am on sales side?
it is better for any retail trader, to make sure he do confirmation for his/her own analysis, do not make a compliments because always prediction can not be 100 percent. sorry for what happen bro.
Thanks for the information.very good one.
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Tuesday, October 20, 2020