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Now the pair is trading slightly below the lower trend-line of the formation; however, the breakout is likely to be false as two thirds of market players at the SWFX bet on appreciation of the pair. At the same time, it is important to note that even if the pair confirms traders' outlook, a real breakout is likely to happen soon given that GBP/USD will approach the apex by the end of the current week.
© Dukascopy Bank SA