GBP/USD: bears can pull the pair down

GBP/USD: bears can pull the pair down

Recommendation:

SELL 1.2705 SL 1.276 TP1 1.2605 1.2505 TP3 1.2405,

BUY 1.2925 SL 1.287 TP1 1.3025 TP2 1.3065 TP3 1.3315

On the daily chart of GBP/USD, bears managed to pull the pair to the lower border of the triangle. If they break the support at 1.27, the pair will continue to move towards the 161.8% target of AB=CD.

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On H1, breaking of the support at 1.2705 will move the pair downwards to the line of the “Three Indians” pattern and 161.8% target of AB=CD. On the other hand, if the resistance at 1.2925 is broken, the “Broadening wedge” pattern will be activated.

2.png

gbp

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Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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