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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: "Double Top" stopped the rise

Sergey Logachev

GBP/USD: "Double Top" stopped the rise

There's a “Double Top” pattern, which led to the current downward movement in a range of support zone 1.4343 – 1.4305. It’s likely to see the market even lower, so a support area between the 89 Moving Average and the level at 1.4282 is probably going to be reached soon. If a pullback arrives, then it'll be a chance for bulls to come back to the market. If so, they are likely going to try to achieve a resistance area at 1.4436 – 1.4502.

GBP/USD: "Double Top" stopped the rise

The price has been declining since a resistance at 1.4468 was reached. Moreover, we've got a “Double Top” pattern as well, so the pair is likely going to get a support at 1.4259. If sellers be stopped here, then buyers will probably try to reach a resistance area at 1.4436 – 1.4468.

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