Since the recent high near 1.27, GbpUsd has dropped almost 400 pips. However, the drop is corrective in nature and is drawing a falling wedge pattern on smaller time frames. Confirmation for reversal comes with a daily close back above 1.24
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Gbpusd is trading above both the falling trend line and the horizontal level
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The bullish scenario looking better and better. Yesterday the price dropped under support, but buyers quickly took control and the daily candle is a long tailed Pin Bar from that support We can expect more gains even above 1.2550 target