GBPUSD – Price Action Squeeze = Breakout of Yearly Highs | Apr 30th

GBPUSD – Breaking Out From Yearly Highs
As discussed in our members commentary yesterday, the cable was forming a price action squeeze and pre-breakout structure continually printing higher lows and higher highs. Today the pair closed above the yearly highs at 1.6850, printing a high at 1.6900. 

There could be a pullback to shakeout some current longs, but unless we get a heavy sell-off, I’m suspecting higher prices and an eventual touch on the ‘big figure’ at 1.7000. Bulls not currently long can look for corrective pullbacks towards 1.6820/6800 and price action signals there to get long.

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I'm Chris Capre, Founder of 2ndSkiesForex. I help traders of all levels change the way they think, trade and perform. As a professional trader, I specialize in trading price action. As a teacher, my passion lies in showing you how to re-wire your brain for successful trading. Want to improve your edge right now? Visit my Price Action Course page.

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