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GBP/USD Potential for Another Bullish Run

Nenad Kerkez

>> The GBP/USD has formed a swing above previous retracement highs and we could see a new bullish momentum<<

Holding above 1.3060 is crucial for bulls to regain control. Price is above L3 pivot and has not tested W H3 pivot. We might expect a new retest if bullish momentum persists. The target is 1.3170. Have in mind that any negative Brexit news might impact the current bullish run. The GBP/USD is light on fundamental data today so it needs another catalyst to push forward and until it happens we might see a slower price action that is mostly range-bound.

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This article was originally posted on FX Empire

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