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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: bears are in the game again

GBP/USD: bears are in the game again

The last bullish rally has been stopped by a “Rising Wedge” pattern, so bears returned into the market. The price faced a support at 1.4458 afterwards, but it’s likely that the pair is going to reach the next support at 1.4423 in the short term. If so, there’ll be a chance to see an upward correction.

GBP/USD: bears are in the game again

The price has found a support at 1.4472, so we’ve got a local rise in progress. Therefore, if bulls successfully gets a resistance at 1.4573 and we see a pullback from this level subsequently, a decline towards a support at 1.4402 is going to be on the table.

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