The GBPUSD surged higher to 1.2903 yesterday and closed at 1.2841, just above the daily EMA 200 (1.2780) as you can see on my daily chart above. From a daily chart perspective, the movement above the daily EMA 200 following a double bottom formation at 1.2000 psychological level suggests a valid bullish scenario. The bias is bullish in nearest term testing 1.3000 – 1.3050 area. Immediate support is seen around 1.2780. A clear break and daily close back below that area would interrupt the bullish scenario and reactivate my neutral mode.
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