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M.A

Gbp/Usd's Next Probable Target

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Lets look at the simple image below (which is drawn with the help of paint). Nothing messy, nothing rushy.

 

Simple diagram attached is giving an indication of next probable target of Gbp/Usd. Area between red lines represent major highs and lows. Area between blue lines represent lower highs and higher lows.

 

Image has 3 important levels highlighted.

 

1- Support trend line becoming Resistance trend line.

2- Higher high point. Bearish move started from this point

3- Price is moving below blue support line which is giving indication of its movement towards black line.

1.png.1a814c766d4548fa8dbe2d4bb3770dc5.png

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hi

 

 

gbp usd

 

The price is moving inside the channel and currently we are seeing price fluctuations inside the range of the ab=cd pattern. By having supply pressure fueled up in the market the ground for a drop in the price will be prepared.

5aa711faabfef_gbpusd.thumb.jpg.bceb69013152ac2c33ff75a7cbdf42f6.jpg

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