Currency analyst

GBP/USD: the bears restore the trend

On the daily GBP/USD chart the bears restore the downtrend. The pair moves towards the target of AB=CD at 127.2% (1.261). Our recommendation to sell British pound from 1.3167 was successful. The short position was opened. Move the Stop Loss to a breakeven point. 

On H1 the target is at 1.291. Here's the target of the "Shark" pattern. The nearest resistance is at 1.3145.

Recommendation: hold short positions. 

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