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GBPUSD Analysis - The GBP is strengthening against the USD (and against many other currencies) and the USD is losing momentum. The GBP is predicted to make its way upwards.
LOOK FOR BUYING OPPORTUNITIES in GBPUSD.
In a weekly chart it bounced off 1.4567 price which was a 89% Fibonacci from a low of 16-May-2010. There were other resistances at play at 1.4567 mark as well. With the growing momentum in GBPUSD, the GBPUSD should make its way upwards.
While you are looking for buying opportunities, be careful of the bounce made off the resistance created by the trendline (shown in picture). Expecting a retracement off this bounce, and then look for Buying Opportunities.