GBPUSD rotates to trend line support on the hourly chart and bounces

Technical Analysis

Author: Greg Michalowski | gbpusd

Price could not extend to the high from last week 

The GBPUSD could not extend to the high price from last week at 1.25291 nor to the high swing area from June 23/June 24 between 1.2531-1.25413. The high price reached 1.2519.

Price could not extend to the high from last week 

The rotation to the downside did fine support against the lower trend line 1.24805 and is now bouncing back higher.

As a result, the pair is arranged trading between the support trend line and the resistance above between 1.2529 and 1.2541 

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