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GBPUSD Nears Reversal Territory
Two days ago, I wrote about a scenario that would turn GBPUSD bearish. The 1.2960 region is the location of ascending channel support that extends from the 2019 low. Although the GBPUSD hasn’t closed below that level yet, the pair did take out another critical level just two days ago. Monday’s 30 pip gap down was the first sign of weakness. On Saturday, I mentioned how a gap down this week would indicate weakness. That Monday selloff led to a close below trend line support that extends from the November 2019 low. I’ve pointed out this trend line several times in recent weeks. So far today, the GBPUSD is selling ... (full story)
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- Feb 5, 2020 12:18pm Feb 5, 2020 12:18pm
- hesron
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- hesron
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- countaccrue
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