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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: one more "flag"

Sergey Logachev

GBP/USD: one more "flag"

The market has been falling down since a “Double top” pattern formed. Moreover, bears broken a local trend line, but finally a support was found in the area 1.4117 – 1.4052. In the short term the price is likely going to decline towards a support at 1.4042 – 1.4018. If we see a pullback from here, then bulls will probably start an upward correction.

GBP/USD: one more "flag"

There’s an actual support at 1.4117 – 1.4052, which led to the current consolidation. It’s very likely that we see a “Flag” pattern in progress, so the market is probably going to reach a support at 1.4042. If bears be stopped here, then bull will have an opportunity to achieve a resistance at 1.4193.

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