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Technical analysis on GBPUSD (02/05/2018)

02 May 2018 Marios Athinodorou

Since the 18th of January 2017, it has been observed that the price was making higher highs and higher lows giving us the clue that the price might have been climbing to the upside. Based on the chart below it could be noticed that the price broke at 1.36418 level.

The trend line here seems to be broken for the first time, after a year and could give the impression that it is gaining momentum. Based on the Ichimoku system, it seems that we have a Kumo break out again for the first time after a year.

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