Recently, as I said on Tuesday's analysis, GBp rose almost 130 pips, and even broke out above the 4 hour resistance line 1.3016. This is a bullish signal and could mean bulls are coming in strongly, I expect a bullish rally towards 1.3153, but instead of going long immediately, I'm patiently waiting for a clear retracement to the just broken line, 1.3015 to pick a long position towards 1.3153. On the 4 hour chart above, long positions seems more ideal and can be recommended especially while the line 1.3015 remains intact. If it is broken to the lower side, then I expect a rally towards 1.2915
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