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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: "V-Top" sends bulls back home

GBP/USD: "V-Top" sends bulls back home

The pair has found a resistance at 1.4515, which brought a “V-Top” pattern, so the price reached a support at 1.4425 afterwards. Therefore, the market is likely going to falling down towards a support area at 1.4343 – 1.4305. Then an upward correction becomes possible, but only if a pullback from the area happens.

GBP/USD: "V-Top" sends bulls back home

As we can see on the one-hour chart, the price faced an intraday support at 1.4436, which led to the current local flat. Anyway, bears are likely going to move on, so we should keep an eye on a support at 1.4374 as the next sellers’ target. 

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