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GBP/USD: pound is oversold

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Technical levels: support – 1.2700; resistance – 1.2810, 1.2860

Trade recommendations:

  1. Buy — 1.2740/50; SL — 1.2720; TP1 — 1.2810; T2 — 1.2860.

Reason: bearish Ichimoku Cloud with horizontal Senkou Span A and B; a dead cross of Tenkan-sen and Kijun-sen but narrowing channel Tenkan-Kijun; the prices is under pressure of Kijun but the market is oversold and expected a correctional movements.

02-gbpusdh4.png

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