GBP/USD- Price in a Resistance Zone but Uptrend is Strong
The GBP/USD pair is trading deep in its resistance zone on a 30 minute time frame. The price is spending too long at this level which means that this level of resistance may not be able to reverse the trend as bulls are in strong control. The pair is trading above the 50 day (shown in green) and the 100day (shown in yellow) moving averages which further confirm the above argument.
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