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GBPUSD: The Case for a 450-Pip Drop in August
Today I’m going to show you how the GBPUSD could set up for a massive drop in August. I’ll talk technicals on the pound chart, and provide an update on the US Dollar Index, as that’s going to be a key driver for pairs like GBPUSD. Watch the video below and scroll down for the annotated charts and analysis. GBPUSD recently broke down from an ascending channel after confirming a fakeout in mid-July. I discussed that fakeout in a Weekly Forex Forecast video, mentioning that it could trigger a significant move lower. With GBPUSD trading below the bottom of that channel near 1.2850, the odds of a further decline ... (full story)