Hello.
Let’s take a look at the GBP/USD. If you look at the daily chart, we have been in a downward channel since mid-2009.
In the shorter term, look for the pair to potentially head back down to the 130.00 area and then we’ll see what happens.
It seems the currency pair wants to break to the upside but only time will tell as continue to move in the channel.
If the pair does break the channel line upwards look for the line to act as support on the move up.
Good luck and be sure to use your money management.
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