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GBP/USD: bearish "Flag"

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15-6-2017-GBP-H4.png

The 34 Moving Average has acted as resistance, so there's a "V-Top" pattern, which has confirmation. In this case, the pair is likely going to test the next support at 1.2705 - 1.2678. However, if a pullback from this area happens, there'll be a green light for another bullish price movement.

15-6-2017-GBP-H1.png

We've got a "Triple Top" pattern, which has been confirmed, so the price is consolidating. Meanwhile, there's a bearish "Flag", so the market is likely going to test the closest support at 1.2705 - 1.2672. If we have a pullback from these levels, bulls will probably try to test the 55 Moving Average.

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