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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: bearish correction

Sergey Logachev

GBP/USD: bearish correction

The market was rising yesterday and finally bulls reached a resistance at 1.4515, which led to the current correction. It’s likely to see the pair lower. If the price finds a support at 1.4436 – 1.4393, then buyers are probably going to achieve a resistance at 1.4577.

GBP/USD: bearish correction

All Moving Average lines were broken by the fast bullish rally. There's a possible “Flag” pattern, so the price is likely going to reach its lower side near a support area at 1.4436 – 1.4393. In case of a pullback from this zone, bulls will have an opportunity to start a new upward movement.

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