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Chart of the Day – GBPUSD – (August 22nd 2019)

The GBPUSD (Cable) has broken above the neckline of an inverted H&S formation on the 4h chart, following the positive statements form Merkel regarding a Brexit deal.

Chart of the Day – GBPUSD – (July 18th 2019)

By definition, the descending wedge is an eventual reversal pattern. In this pair, we have made a pivot near the lows from 2019 at 1.2400 and have reversed higher.

Chart of the Day -GBPUSD- (May 30th 2019)

Although the GBPUSD went as low as 1.2580 today the fact that we are holding above the 1.2600 level tells us how important this level of support is for the end of the week.