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Apr 17, 2025

Trade ideas

GBPUSD: Test of the upper trendline

GBPUSD, Daily

GBPUSDDaily.png

In the Daily timeframe, GBPUSD formed an ascending channel pattern. The price is rising rapidly and has reached the upper trendline, however, the upper Bollinger line has been crossed. At the same time a divergence was formed on the RSI.

  • A breakout of the trendline above 1.3250 will open the way to 1.3420;
  • A rebound from the trendline will drop the price to 1.3000.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Egor Schmidt

Author: Egor Schmidt

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