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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: bulls fell over the "Thorn"

Sergey Logachev

GBP/USD: bulls fell over the "Thorn"

The market has formed a “Thorn” pattern, which led to the current decline. Therefore, the price is likely going to get a support at 1.4194 – 1.4170. If so, the pair will probably try to achieve a resistance at 1.4105 – 1.4342 once again.

GBP/USD: bulls fell over the "Thorn"

Yesterday the price was moving up and down, which finally brought a “Thorn” and a “V-Bottom”. It’s likely to see the market somewhere in a support area at 1.4195 – 1.4189 during the day. If a pullback happens, the pair will have an opportunity to reach a resistance at 1.4305.

GBP
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