GBP/USD
Time frame: H4
Technical analysis: For a long time, the pair was moving into a rising trend channel. On 28.03.19 GBP/USD managed to break the support of the channel and reached 38.2% of Fibonacci. After the pair failed to break through this strong support, they attacked twice the support of the trend channel (already resistance) and on the 3rd time the pair finally broke it and rebounded into its upward trend. Since the current bullish move is very strong, the price is likely to test the resistance ( light blue trend line) at 1.3285, then test the long-term support (the white trend line) and from there to continue a strong upward movement.
Indicators: The price is over 50 and 200 EMA, playing a strong role.
DeM-E is about to enter an over-sold territory that supports the 1.3285 adjustment.
Entry in deal: Buy only a retest of long-term channel support.
Alternative Scenario: If the price fails to hold on to Trend Channel Support, it will continue to fall back to 38.2% of Fibonacci.
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