Just as stated on the other day's forecast. GBP broke above 1.2648, retraced back to it but is currently on its way to the upper side. I expect a rise towards the resistance line 1.2765 and a even a breakout to the upper side. But unless 1.2765 is clearly breached to the upper side with a big green candle, I expect a rejection 1.2765 to short GBP towards 1.2555. On the 4 hour chart above, I'm waiting for a break above the short term resistance line 1.2702 to confirm a bullish move towards 1.2765.
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