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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: strong gap led to the new low

GBP/USD: strong gap led to the new low

There’s a local “V-Top”, which led to the strong “Breakaway Gap”, so the price reached a support at 1.4371. Therefore, the market is likely going to achieve the next support, which is near the uptrend line. If we see a pullback somewhere from this area, there’ll be an opportunity to see a bullish movement towards the last gap.

GBP/USD: strong gap led to the new low

As we can see on the one-hour chart, the price is moving up and down. Because of the Monday’s gap, the market is likely going to get a support somewhere at 1.4343 – 1.4305. If bears be stopped here, it’ll be a chance to see an upward correction.

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