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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 pair has a flat in progress on the four-hour chart. There’s a “Breakaway Gap” above the local trend line. Moreover, it’s a very likely that the market has been forming a “Triangle” pattern. It's likely that the sellers pressure are going to increase and the pair will go even lower to a support area between the levels 1.4334 – 1.4148. Afterwards, the price can go to a new upward movement towards a resistance area between the levels 1.4351 - 1.4408.

GBP/USD: technical analysis

The market has a local downward trend on the one-hour chart. There's a flat movement in a form of triangle in progress between the support 1.4234 and the resistance 1.4404. It's likely that the pair will go a little bit higher to a resistance area between the levels 1.4338 - 1.4351. However, the price might go to a new downward movement afterwards to a support area at the levels 1.4224 – 1.4234.

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