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I've been trading for 15 years, so I have a lot of things to share. I use the classic technical analysis, which is one of the most powerful tool for any trader.

GBP/USD: "V-Top" led to bearish correction

GBP/USD: "V-Top" led to bearish correction

Bulls faced a resistance at 1.3115, which led to form a “V-Top” pattern, so the price is declining. In this case, it’s likely that the pair is going to reach a support at 1.2995 shortly. However, if a pullback from this support be on the table, there’ll be a chance to see an upward movement in the direction of the 34 Moving Average.

GBP/USD: "V-Top" led to bearish correction

There’s a “V-Top” pattern, which led to decline towards a support at 1.3033. Therefore, bears are likely going to achieve the next support at 1.3019 – 1.2995. Considering a possible pullback from this area, bulls will probably try to deliver an achievement of the nearest resistance at 1.3115 – 1.3137.

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