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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: technical analysis

Sergey Logachev

GBP/USD: technical analysis

The GBP/USD pair has a local up-trend on the four-hour chart. The price is moving in a range between the resistance level at 1.4564 and the support level at 1.4346. There’s a “Double Bottom” pattern which was formed on Monday. It's likely that the downward movement will go  further to a support area between the levels 1.4408 - 1.4346. At the same time, it’s a quite possible that bulls are going to come back to the market afterwards.

GBP/USD: technical analysis

As we can see on the one-hour chart, the GBP/USD pair has a local bullish trend. The price is moving in a range between the resistance level at 1.4408 and the support level at 1.4528. It's likely that the upward movement will go on to a resistance area between the levels 1.4473 - 1.4528. However, shortly after the market may to continue falling towards a support area between the levels 1.4408 - 1.4346.

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