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GBPUSD: Longs to 1.417500!


12hr Time Frame: Price is on a long-term uptrend and has broken above previous areas of resistance as new support. At the same time, we can see price is creating an inverted head and shoulders formation in confluence with long wicks pointing to the downside. If price holds above this zone, we can anticipate longs to 1.40000 and potentially 1.417500. However, if price breaks support, we must revaluate price action. Due to the uncertainty of market fluidity, risk management is recommended.

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