Currency analyst

GBP/USD: bears have set a trap

On the daily GBP/USD chart the bulls made another attempt to return the prices inside the bullish trend channel. If it is successful, the risks of growth to 1.331 and 1.335 qill increase. Recoil from diagonal resistance and the following successful test of support at 1.3225 will make the pound decline towards 1.3155 and 1.3085.

On H1 GBP/USD the break of the upper border of the descending trend will strengthen the case for the "Bat" pattern. When its 88.6% (1.3325) target is reached, there will be a sell signal.

Recommendation: SELL 1,3225 TP1 1,3155 TP2 1,3085 SL 1,331 SELL 1,3325 TP1 1,3225 TP2 1,3155 SL 1,3395


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