GBPUSD reached a key level of 1.40 yesterday. It happened after negating two bearish formations that formed on the daily chart on last Wednesday and Friday. The bulls appetite, however, does not cease and during today’s session they managed to push the rate above 1.41.

The trend on this pair is undoubtedly bullish, however, on the resistance to which the price has arrived, offers may appear which will result in corrective move. The nearest support is now provided by the accelerated trend line running from the November 13 low, the next is the horizontal level around 1.3610.

In the above-mentioned zones, you can look around for buying opportunities that will allow you to join the upward trend. However, it should be taken into account that the key resistance zone begins at 1.40 and stretches to around 1.41.

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Effective breaking of the resistance zone mentioned above will open the way to the next key barrier at 1.47 / 49. This area was also useful as a support in 2015, while as resistance was during the whole 2016, when the pound broke down after the Brexit referendum.

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