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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: new low is on the way due to the "Triangle"

GBP/USD: new low is on the way due to the "Triangle"

We’ve got a consolidation in a range of the current “Pennant” above the local support at 1.3226. This pattern is likely going to be broken shortly, so we should keep an eye on the next support at 1.3116 – 1.3016. If a pullback from this area be on the table, a bullish movement towards a resistance at 1.3483 – 1.3614 becomes possible.

GBP/USD: new low is on the way due to the "Triangle"

There’s a flat on the one-hour chart as well. We’ve got a possible “Triangle” here, which is obviously increase bearish pressure. Therefore, its lower side is likely going to be broken during the day. If the price finds a support at 1.3116 – 1.3015 afterwards, there’ll be an opportunity to see an achievement of the nearest resistance at 1.3483 – 1.3614.

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