GBP/USD Price Analysis: Bulls eye longer-term key neckline resistance GBPUSD Technical Analysis
US Dollar, DXY, is consolidating the slide in a support area.
The weekly chart for DXY shows the price plummeting this week so far into a support area and the M-formation is a reversion pattern that could draw the index back towards the neckline in the foreseeable future. Given the 4-hour neckline was already broken, and owing to the M-formation being a reversion pattern, the bias was bullish with the price on the front side of the trend. GBP/USD rallied as per the bullish bias and is moving in on the longer-term chart´s head shoulders neckline:Information on these pages contains forward-looking statements that involve risks and uncertainties.
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