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    Thread: GBP/USD (part 58)

    1. #501
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      In my view GBP/USD pair is suitable for sell. Because this pair now down trend mood and yesterday form shooting star candle with body 40 pips which indicates bearish movement. It the market properly break down 1.2924 level in H4 chart, I will take a sell trade with target 1.2843. Remember that USD Index is now near resistance level of 97.41. If USD index change its pattern, I will not take the trade. In a summary, I am waiting for a good bearish candle in H4 chart to enter in the market.


    2. #502
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      Good day to everyone!

      Hereís the chart for the GBP/USD currency pair:

      The quote has not yet regained itself from the decline yesterday. Therefore, we have a bearish movement, as well as a twenty-day minimum. Meanwhile, the Relative Strength Index (RSI) is below the level. On the other hand, it is assumed that a false downward movement might be played out this day. After which, a correction will make a movement upwards with the probability of transforming the bearish trend into a bullish trend. Nevertheless, a situation wherein the pound/dollar will decline towards the level of 1.2850 or even lower is also very likely.

      Forecast for the GBP/USD currency pair:

      1.Purchasing sales can be considered during the breakdown of the level of 1.2970. Targets for the trading day include the levels of 1.3050 and 1.3100.

      2.Selling sales can be considered during the breakdown of the level of 1.2920. Targets for the trading day include the levels of 1.2850, or even lower up until the level of 1.2750. While selling, a hard stop should be set, and with a positive dynamics, we can transfer it to the breakeven straightaway.

      The system of the twenty-day minimum hardly even be unsuccessful. Aside from that, the level of 1.2750 is probably going to turn upwards or at least get a correction.

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    3. #503
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      Open interest in GBP futures markets rose by more than 6.3K contracts on Tuesday from Mondayís final 151,528 contracts, according to advanced data from CME Group. In the same line, volume increased by almost 73.9K contracts, reversing the previous pullback.

      GBP/USD could now slip back below 1.2800

      Cable closed at daily lows on Tuesday accompanied by rising open interest and volume. That said, a deeper pullback is now expected without any support of relevance until Februaryís low in sub-1.2800 levels.
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    4. #504
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      As shown on the 4-hour chart, the pound and US dollar pair had a breakdown from the horizontal mark at level 1.2960 after a further narrowing movement downward. We can say that the price fixation suggests a rollback to level 1.2960 with a few little breakouts even with a bit normal practice. However, in general, it is expected to go to the bottom at level 1.2775 after price consolidation.


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