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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 are ready to deliver a local correction

GBP/USD: bulls are ready to deliver a local correction

There’s a support at 1.4089, which has stopped bears for a while. So, the market is likely going to get a resistance at 1.4227 – 1.4248. If sellers push off from this area, there’ll be an opportunity to see a decline towards a support at 1.4039 – 1.4003.

GBP/USD: bulls are ready to deliver a local correction

We’ve got a local flat in progress between the nearest support at 1.4089 and the 34 Moving Average. Therefore, the market is likely going to get a resistance at 1.4227 – 1.4248 during the day. However, this possible movement will be just a correction, so bears can well bring a new low afterwards.

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