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GBPUSD Remains Buoyant

he GBPUSD showed rejection of lower prices today as it pared most of Monday's losses into the New York close, forming a fakey / pin bar trading signal in the process. There is some potential for the market to push higher from today's setup, however, resistance is coming in not too far overhead around 1.5220 - 1.5300 area. More experienced traders could consider a long from today's setup with a potential target up in that 1.5220 - 1.5300 resistance area. The more conservative play it so wait for price to push higher and then watch for a price action sell signal from resistance to trade back in-line with the longer-term weekly downtrend.

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