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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: consolidation going to be continued

GBP/USD: consolidation going to be continued

We’ve got a downward consolidation, which is taking place on the four-hours chart. So, the market is likely going to decline towards a support at 1.2089 in the short term. If any bullish pattern arrives afterwards, there’ll be an opportunity to have an upward correction.

GBP/USD: consolidation going to be continued

There’s a local “Double Bottom” pattern, which has been confirmed. However, if we see a pullback from the nearest Moving Average, bears are likely going to move on. So, we should keep an eye on the nearest support line as an intraday target. 

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