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Thread: GBP/USD

     
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    2021-09-16   12:04
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    On the pound, the daily balance at 1.38132 has not been tested.
    Attachment 412546
    Monthly boundaries: low - 1.37244, high - 1.41641.
    Weekly boundaries: low - 1.37641, high - 1.41490.
    Today, I expect the pound to enter the range of 1.3760-1.3790 where Ill open buy positions and wait until the price reaches the mark of 40.
    On the Australian dollar, the daily balance at 0.73240 has been tested.
    Attachment 412548
    Monthly boundaries: low - 0.70924, high - 0.74899.
    Weekly boundaries: low - 0.73330, high - 0.75021.
    As for the market activity report, everything stays the same here. As Ive planned, I took profit on some of my sell deals when the price was testing the lower weekly boundary and moved some of them to breakeven. Id like to see a breakout of the 0.7333 level and move further up.
    On the Canadian dollar, the daily balance at 1.26853 has not been tested.
    Attachment 412550
    Monthly boundaries: low - 1.22536, high - 1.28427.
    Weekly boundaries: low - 1.25713, high - 1.27815.
    I keep holding my long positions open although there is a great possibility that they will be cancelled when reaching the breakeven point. I dont really like the idea of buying from the lower boundary of the week but I will consider it anyway if there is market reaction. On the other hand, going short from the upper boundary looks far more attractive. I wish we could reach it though.
    The Japanese yen has left its weekly boundaries. So now Im waiting for it to test the boundaries of the month. I will consider opening long positions in the range between 108.20 and 108.40.
    As for gold, the situation is unchanged here. The daily balance at 1,800 has not been tested.
    Attachment 412551
    Yesterday, gold did an excellent job when testing the weekly boundary. But I didnt sell there as Im still waiting for lower levels to go short from.

    The attachment
    2021-09-21   12:36
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    Hello GBPUSD traders. The GBPUSD currency pair is bullish today. With this bullish move, the pair has provided opportunities for traders to go long in the market. Let's take a look at possible scenarios that will occur based on the price action on different time frames.
    GBPUSD H4 CHART

    The price of the GBPUSD currency pair has formed a descending triangle pattern. The pattern is visible on the H4 chart of this pair. The price is moving inside this pattern and getting tighter as it slowly converges towards the end of the pattern.
    Traders can trade the up and down bounce within the pattern but it is riskier. Most traders prefer to wait for a breakout and then trade in the direction of the breakout. The falling trend line is acting as a resistance line while the rising trend line is the support line. The price just made a bounce off the support line around 1.3880 price level. Buyers can target the resistance line which currently aligns with the 1.3880 price level.
    GBPUSD D1 CHART
    The daily chart of the GBPUSD currency pair shows that its price has been moving within a wide range. This range is between 1.3600 - 1.400. That is a distance of 400 pips from top to bottom. The price failed to fully touch the daily support this time around before making a bullish bounce. This shows that there is a significant increase in bullish pressure.
    The upside bounce can last till the price enters the resistance zone around 1.3980 - 1.4000. It means that long-term traders have an opportunity to buy and make decent gains.

    The attachment
    2021-09-16   12:27
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    Hi there!
    The GBP/USD pair went lower after the formation that appeared at 1.3915 and then it entered a short correction. Now the price is hovering near the opening level of the week where the point of control (POC) is likely to appear. These fluctuations have a reason.
    Attachment 412564
    On the weekly options, traders took profit on both CALL and PUT positions at 1.3900 (right where the formation was) and 1.3800 respectively. The current price for the pair is 1.3837. That is why we cant move to 1.3900 as there is nothing left there. The same is true for 1.3800, but it is very possible that the price will break through this level in the near term.
    Attachment 412566
    The highest targets for Put positions are found in the area of 1.3700 - 1.3770 which looks good for testing as it promises good profits. Besides, the bearish sentiment on metals and indices doesnt support the growth of currency pairs that are trading against the US dollar. That is why the pair is falling although not as rapidly as I wanted. But all in good time. Youd better look at EUR/USD Week that is moving so rapidly that many traders are likely to suffer great losses this week. I placed an order at 0.01, already low enough. Lets try it out, but I can admit that you can place it closer on the extended spread. If the price surges by the end of the week, this will generate a profit of one to ninety-nine (1 to 99). I wish they made the margin requirement lower so that I could add 100 lots or more. Lets see. Currently, Im in a wait-and-see mode.
    Attachment 412570
    Conclusion: as of now, only selling is relevant on the pound.
    Regards.

    The attachment
    2021-09-21   11:08
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    For GBP/USD, the current balance for this week looks like this: low at 1.3600 and high at 1.3875. When reaching these targets, trading participants will defend these levels as it will surely bring imbalance. I think the balance will be quickly restored, like yesterday when the pound didnt hit the lower boundary. This happened because there wasnt enough open interest on both CALL and PUT positions at 1.3625. So the pound was struggling to move down as the downward momentum had been exhausted. This was the moment when the price jumped upwards without reaching weekly boundaries.
    Meanwhile, USD/JPY reached the boundaries yesterday, so I had a chance to trade this pair while it was rising. The profit was minor, but this was my first try to work from these boundaries. In the future, Im planning to increase the trading volume on the pair, and Ill see how it goes. I have my pending order set at 1.3600 and 1.3605. It is possible that the price wont reach the target by just Five pips and will move higher instead.
    In the pictures below, you can see weekly boundaries for the pound as well as my tiny profit gained on USD/JPY.

    The attachment
    2021-09-16   11:45
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    Good morning!
    On Thursday, the situation is just the opposite compared to yesterday. Now, the mandatory zone at 3833-28, which is confirmed by a lower daily boundary of the options channel at 3727, acts as strong support.
    Attachment 412538
    The daily balance at 3899 is the main upward target not only for today but probably for the end of the week. Also the pattern that is usually activated in the middle of the week on Wednesday appeared yesterday and it is another indication of growth. So I decided to close yesterdays short deals and will now look for buying opportunities.
    Attachment 412539
    On a different chart, traders keep selling the pair which means that lower levels are limited by the results of yesterdays US session. The first downward target is found at 3818 which goes well in line with this scenario. But we need to wait for the price to pass 3830. If it moves above the level of 3847, it will open the way towards upper targets of 3857 and up to 3902. These would be the post points to close todays trading.

    The attachment
    2021-09-18   00:24
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    GBP/USD Technical analysis by Fadilah:

    Due to the strength of the US dollar at the end of the week, the GUB/USD pair fell sharply after breaching the uptrend line on the H4 frame. Based on the technical analysis of the US dollar index, it is expected that the decline will continue next week, as we will see in this post.

    • H4 frame technical outlook:

    On the H4 frame, the price breached the ascending trend line after the psychological level 1.3800 failed to provide enough support to push the prices higher.
    According to the harmonic technical analysis, this decline is expected to continue towards 1.3640, which is located near the Fibonacci level 88.6 of the recent bullish wave, and if the price manages to reach the level of 1.3640, it will form a bullish harmonic pattern, which makes it the right place for the take profit.
    https://forum.mt5.com/customavatars/1936203558.png
    • Daily frame technical outlook:

    As for the daily chart, the recent decline comes after the formation of bearish candlestick patterns, as we can see on the attached chart. With yesterdays bearish candle, we can say that we have a high selling pressure that will provide more support for the medium-term bearish outlook, especially that we have a negative crossover on the MACD indicator. Also, the target 1.3640 is located near a daily demand area, so it will be necessary to monitor the price behavior to make the right decision.
    https://forum.mt5.com/customavatars/946006780.png
    Recommendation:

    As we have seen, we have a bearish price action on the GBP/USD pair on the daily and the H4 frames, which allows us to sell after getting a confirmed breach of the psychological level 1.37000, considering the level of 1.36.400 as an initial target.

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    GBP/USD Forecast:

    Hello everyone, the downward trend of GBP/USD at the beginning of last week forced it to stop temporarily after the price hit the psychological level of 1.3600. This rejection led to a very high price increase, almost creating a weekly candle with a very long tail. In addition, if you look at the current price momentum, the price still seems to want to move slightly higher.

    Even if you look at the current H1 time frame, GBP/USD has lost its bullish momentum against last night's upward momentum. However, the price still stays in the demand area below the current H1 time frame chart. The possibility of potential price changes today will focus on some news that may impact the market.

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    From the economic news, chart to be released today. We will find that some very influential news that may significantly affect the market trend this night. Economic news from the UK, Europe, and the United States will cause fluctuations in the US dollar index.

    Last night, I also found a long position in the GBP/USD currency pair. However, now the situation is various. The price took pullback correction a lot, so now I think this is a golden opportunity for the sellers.
    Name: PicsArt_07-23-08.24.00.jpg Views: 72 Size: 130.5 KB

    At present, we only need to wait for the market trend to enter the European market later, and the market seems to have experienced high volatility. We can also understand the price reaction that occurs in this supply area, whether it will react to a breakthrough in the defense area or whether there will be a reversal, again causing the pound to the dollar exchange rate to fall further.

    [B]Thank you./B]

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    Technical Analysis Of H4 Time Frame


    On the 4-hour chart of the GBPUSD pair. The pair is formating downtrend movement on the chart after completing the correction from the level of 1.3780 and again moving towards the negative direction. If you look at the resistance area, the price established a reversal pattern on the chart like Harami candle, which signifies price reversal. Using a negative candlestick pattern leading towards the support channel at the level of 1.3660, the Reason for the price reversal can be verified by the Ichimoku could indicator.

    The price develops a reversal pattern after retest the lower border of the Ichimoku cloud, which is the first factor of a price reversal, and the second reversal of price reversal is SMA-200 at 1.3881 and EMA-100 at 1.3788 floating above the price movement in favor of sellers leading the price towards the support level at 1.3570 followed by 1.3500. The bearish trend scenario can change if the price breakout Ichimoku upper border of the cloud at the level of 1.3852 and consolidate above the cloud can lead to the bullish bias towards the resistance level of 1.3884.

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    Technical Analysis Of H1 Time Frame

    According to the H1 time chart of the pair, The price moves above the Ichimoku cloud indicator after retesting the upper border of the cloud, moving towards the resistance level of 1.3830. According to the Fibonacci retracement indicator, price consolidates between the 38.6% and 50.0% fibo levels waiting for a strong wave of buyers.
    The price is stuck between SMA-200 and EMA-100. If the price breakout the fibo level of 38.6% at1.3731 would lead towards the resistance level of 23.6% significant resistance at 1.3871 followed by 1.39

    Name: Screenshot Capture - 2021-07-23 - 08-58-59.png Views: 47 Size: 292.6 KB

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  6. #4333 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Pound technical analysis


    I hope you are well. Pair of the British Pound and the US Dollar. Time frame of 30 minutes:


    Today's pound rate is quiet, and it has not been moving as strongly as it had during those days. Upon a breakdown of 1.37295, I expected to be able to enter sales, but the price reached the level, made a false breakout, and then turned down. I could have entered more aggressively from the level of 1.37584, but I had a more conservative entry point according to my plan.

    Name: Screenshot_20210724_011227_net.metaquotes.metatrader5.jpg Views: 110 Size: 681.9 KB

    2 - As the price went down, the AO indicator crossed into the negative area on the 30-minute chart, and is now moving back into the positive area. It is more distinctly formed when viewed from a 15-minute perspective. Additionally, the hourly chart shows a crossing of zero. Due to this, the current rise in price from the level of 1.37216 can be read as a new upward impulse and finish the maximum, or it can be seen as wave B of the correction. As soon as the correction is simple, then wave C will occur, and only then can we expect to reach the maximum. I'm curious to see what happens in reality.

    In the 30 minute chart, the Bollinger bands are tucked, which indicates the damping of the movement. A picture and title are the same for the hourly time frame, and the price is in the center. Consequently, we cannot draw any definitive conclusions just yet based on the tapes. Let's review levels once again.

    Assuming that a new upward impulse is gathering strength, you can buy them, according to my forecast, upon consolidation and breakdown above the level of 1.37738. Assuming this is successful, we can expect to see the price rise to the level of 1.38, and possibly even higher. Those points of entry are generally left open in the morning for shopping.

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    A selling opportunity is presented to me once 1.37218 is broken, from which the price has recently risen. Certainly we may fall down to the level of 1.36926 if we are able to gain a foothold below it and 1.36669 as our next target if the price stabilises behind it. Nevertheless, all this would have happened already next week.

    I hope you all have a wonderful weekend.

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    H1 technical analysis:
    GBP/USD Market price is stalled due to bank holiday at this place 1.37422. When the market is open on Monday, the cost of GBP/USD will move downwards to complete its structure. If we look at the price of GBP/USD market Price in the h1 time frame, the price is trending down, and the current price is below 8- Day simple moving average and 23- Day simple moving average. The market price is also below the 200-Day moving average. These things confirm that the market price may go down and touch the support level, and the trendline on price 1.37100 will complete the market structure. If we look at the CCI indicator, then that too is going down from the zero levels. We get the confirmation that the price of the GBP/USD market price can go down and touch the support level and trend line. The market price will feel the support level, and after connecting, its price will move upwards, which will be our entry point 1.37100.

    Name: GBPUSDH1.png Views: 48 Size: 34.5 KB


    M30 technical analysis

    If seen in the time frame of m30, the GBP/USD market price is going on in the downtrend channel. The market price gives a lot of respect to the downtrend channel. Sometimes it touches the top of the track, cost, and sometimes, the market price touches the bottom. Currently, the market price of 1.37422 has closed below all the moving averages.CCI indicator is starting to crush the zero level downwards. After touching the bottom part of the downtrend channel, the market price will move upwards and break this channel. Then it can feel the resistance level of 1.38700.

    Name: GBPUSDM30.png Views: 48 Size: 26.5 KB

    GBP/USD market exit and entry Plane

    Entry point:1.37100

    Take profit:1.38700

    Stop loss:1.36700

    Indicator List :

    CCI Period: 30 value
    8-day: simple moving average
    23- day: simple moving average
    50- day: simple moving average
    200 -day: simple

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    GBPUSD Technical Outlook:

    In the H-4 time spans we, can see that the price has tried to go down a bit because it is no longer able to go up again. And if we draw a trend line between the peaks formed yesterday, at this moment, the price seems to be moving lower. So, it could be that for Monday' the price will correct first towards the mid-Bollinger Band line or, it could be low BB and then go up high to catch the MA-200 line which, is above there. And if we look at the shape of the Bollinger Band, it has started to curve downwards for its BB top. Next, let's look at the movement at H-1 time below:

    Name: H-4.png Views: 45 Size: 35.5 KB

    If in the H-1 time spans we; see that the price has reached the low of BB but has bounced back up again because the Bollinger band is flat, so; the price moves sideways up and down. And when the price goes up now, it is not able; to touch the BB top, So the price immediately falls back by cutting the Bollinger Band mid. And so that in this last situation, the price is already below the mid-BB in other words, the price will try to keep going down with the first target being a low BB, and after that, it will form a sell momentum or reject it back up again. Even now, the MA-50 and MA-200 almost intersect each other, which, if they cross there, will be a trend reversal. That's it for this update altogether for now.

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    Thank you. Happy weekend!

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    Greetings (to the whole forum)

    This tool is somewhat confusing to some extent. If we take into account the fact that the main direction of the movement is bearish, then we can assume that the upward correction is coming to an end (but at the moment, these are just my assumptions and nothing more). On Friday, the price action was fixed at the level of 1.3763. The speculative trading range is 1.3730-1.3898. As for the continuation of growth, after reaching the resistance level 1.3898, a major struggle for the continuation of growth will begin. As above 1.4000, bigger players will start entering the market. But at the moment, the main thing is not to allow growth above the level of 1.3800.
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    Today and volumes but here it turns out volume is going down and the keyword will be on Monday for sellers so if you look at the levels we reached at the previously broken 3750 for the consolidation and then the way to the bottom but everything would be fine if everything was that simple, these sales So far, but it's so far 3650+ - and then after the crash we'll see what happens in the end, canceling sales at 3780, where the local level is built.
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    -4 and sales volumes in this half are more than developed, on Friday they gave a sales volume and when trying to buy, there is no volume, most likely sales will continue to the local level at 3680 and at the level of 3650, cancellation from receipt of sales at the local level 3780 as well as the local level at 3720 already Try bouncing and the next approach will break it.
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    The analysis for the next GBP/USD currency pair movement in my opinion is still very likely to be bullish, because if we look at the current daily time frame, a bullish Marrobozu candle is formed with a fairly large or long body, and this could also enter into a bullish engulfing candle pattern, and occurs at the support area at 1.37720, that's why my prediction is that it will likely continue to rise. The scenario is, he can go up straight away without retracting down first, or he can retrace first by going down to the 1.37650 support area and the price bounces there to go even higher. However, if it turns out that later he goes down and breaks the support at 1.37910, that means he can go down even deeper or GBP/USD currency pair can just get to the support area 1.

    Name: IMG_20210725_051309.jpg Views: 36 Size: 65.3 KBName: Screenshot_2021-07-25-05-15-41-83_a068875e8d70110f8d1ec48729c67374.jpg Views: 37 Size: 378.4 KBName: Screenshot_2021-07-25-05-16-56-67_a068875e8d70110f8d1ec48729c67374.jpg Views: 38 Size: 321.9 KB

    Slowly the movement of GBP/USD currency pair began to penetrate the resistance area at 1.37940. Thus, it is very likely that he will continue to rise again with the target at the daily resistance area at the price range of 1.37690. However, we can see that the movement of GBP/USD currency pair in the past few days has been less exciting, yes, the daily range is also quite narrow for a GBP/USD currency pair class pair, so I think it will take quite a while for GBP/USD currency pair to reach its bullish target. Let's see, we'll just wait for the European or American market sessions.


    Name: Screenshot_2021-07-25-05-24-29-36_a068875e8d70110f8d1ec48729c67374.jpg Views: 40 Size: 415.0 KB


    Just like the GBP/USD currency pair, I also think the EUR/USD pair will be able to continue rising again, because I see it from the current daily time frame, a DOJ candle is formed at the 1.1800 support area, with a combination of DOJ and support this is what makes I think it is very likely that GBP/USD currency pair, will continue to rise. Of course, if he actually goes up, the target is at the daily resistance area at the price of 1.38200. For next week, don't forget to look at the economic calendar, and there is no schedule for high impact news to be released, so it seems that today's price movements will be normal, meaning that there is little chance of significant movement, so let's see, we'll wait in the session. European or American market only, because in the Asian session the price is usually sideways.

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    GBP/USD analysis

    Good night all. Today I analyzed the price trend on the weekly chart. Everything seems clear in the direction of growth. In general, the price has formed quite a tight range in the last three weeks, and there was a need to exit last week., However, as a result, after testing the 13,669 price level, the price is trading again. , forming a rotating candle leading to a buy. If we consider all the available confirmations that could continue the bullish run and combine it all with the global bullish trend, I think the growth outlook clearly seems more logical and technically makes more sense.

    More details are below, relative to the British pound on the weekly chart, after testing the local top-down support at the 1.3669 price level, the price reversed and formed a candle leading to the next buy. the signal is global. Bullish. I hope the price of this trend will rise even higher. The closest benchmark for a bullish move is the local resistance level at 1.4000. There will be two situations in the development of the situation near this resistance level, namely the most important thing is to fix the price above the specified resistance level.

    If this plan is carried out, I will wait for the price to move to the local resistance level at 1.4240, close to this resistance level, and wait for the formation of a trade setup that will help determine the direction of the next trade. if a rotating candle is formed from the 1.4000 level. Also, I think the price will return to the local support level at 1.3800. Near this support level, I will wait for the formation of a rotating candle and the recovery of the price movement.


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    Greetings to our dear traders and speculators who are here in the forum!

    Lets discuss the current situation of the pound/dollar currency pair:

    Looking at the daily time frame, it can be seen that the price is trading downwards below the resistance line. It shows that the previous week was closed with a red daily candle, which means that it closed with a decline, and so, it is very likely that the downward movement will continue in order to reach the level of 1.3600. Anyhow, the downward trend retains its relevance until the inclined line is broken.

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    As for the four-hour time frame, a resistance line was also formed and now, the price has stalled on it after Fridays increase. Everything points to a further decline after the rebound from the level of 1.3760.

    A strong local low was seen at the level of 1.3575 in the hourly time frame. It is very possible to re-enter this level and be retested by the bears.

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  15. #4340 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    British pounds / US dollars

    26.7.2021. Monday. Greetings to trading lovers and the pros.
    By observing the daily chart, you can immediately determine the level of the daily time frame when buying and selling 1.4249, up and down at 1.3571.
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    For those who use the H-4 time frame to take profits, the buy and sell prices will be around 1.3910 up and down at 1.3571.
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    Well, early entry, on the hourly time frame, we will be watching the ups and downs at 1.3786 and 1.3571. When the hourly candle closes, we enter into the trade. To buy: StopLoss 1.3686 TakeProfit 1.4086. To sell: StopLoss 1.3671 TakeProfit 1.3271 Exit the trade only by taking profit or stop loss. With other options, the spending side may increase and the profit may decrease.
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    I see the GBP/USD pair trading a lot in the 1.4202 region. Accordingly, there are a large number of sell stop orders. Top traders should go there in order to cut these stops. Now it seems to me a perfect point to break 1.3785 and get a foothold above this level. This means the collapse of the defense. After that, a slight pullback is possible and the true resistance level can already be exceeded. Only the stars and the growth of our spouse could be higher. According to CCI, we have consolidated the sales backlog. This is another entry point for purchases. How long this purchase will be appropriate, I do not know. In the price glass, there is almost no difference between buying and selling. Most likely, this can be expressed about an equivalent price movement.
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    Though trading on financial markets involves high risk, it can still generate extra income in case you apply the right approach. By choosing a reliable broker such as InstaForex you get access to the international financial markets and open your way towards financial independence. You can sign up here.

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