The GBPUSD price action is technically on a bullish correction, a pullback to the 1.29800 area; it is a value area on the D1 tf and susceptible to a bearish turnaround. I am bearish GBPUSD, but as a swing trader, I will await a feasible bearish setup on a daily closing basis before entering the market.
KP
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DislikedGBPUSD Weekly Technical Outlook GBPUSD market operation is southward on the monthly time frame having retested a falling trendline (red) in August and a previous horizontal resistance around 1.34500 (blue). Technically, the 1.25200 area (purple) is the operating horizontal support on the monthly time frame. {image} An evening star formation can be seen on the GBPUSD weekly time frame. The relatively big bearish continuation candlestick printed last week signposts the intention of bears to advance a southward drive. Presently, market operation is...Ignored
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