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Technical Analysis

GBP/USD Breakout?


Price is trading in the green and is almost to reach the upside line of the up channel. Technically a breakout is favored, but we have to wait for a valid one before we take action. The Cable could receive support from the UK’s data once again, the Average Earnings Index, Claimant Count Change and the Unemployment Rate will be released later.

GBP/USD is trading right above the 1.3300 psychological level and above the 1.3268 broken horizontal resistance, a minor consolidation will attract more buyers.

Author: MultiBank Exchange Group Website:
MultiBank Exchange Group
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.
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