GBPUSD Breaks Massive Key Level

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1 June 2021 | Updated: 1 June 2021

Key Support: 1.42 – 1.4165
Key Resistance: 1.4380

The GBPUSD’s upside has been capped to the upside by the 1.42 level since mid May creating a flat triangle in the process.

it has now come back into the range below 1.42 on big USD buying from the lows but the setup remains valid above the weekly pivot and 1.4150 level which is this week’s lows.
Unless price breaks with the current bullish structure and the DXY breaks above 90.40 we are still very much selling pullback on the USD; which in this case would be dip buying GBPUSD.

Heads up to a possible entry modification if we manage to find one lower.

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