GBPUSD: Closing Wedge Creating New STOPS.

In spite of six weeks of upward trend tracking the direct downside of the GBPUSD by about 1.3070 limited, the quota must exceed an adjacent downward inclined resistance line by 1,3240 to justify its strength.

During the upside break of 13240, 1,3320 and 1,3350 can stop at an average of 1.3380. Alternatively, an downside break of 1.3070 could first drag the pair to 1.3000, and later to 1.2955. The 1,2830 and the 1,2770 may become favorites of bears in the further decreases below 1,2900 of the pair.

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