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GBPTRY: Triangle sequence showing sell towards 6.5100.

Short
BRITISH POUND / TURKISH LIRA (FX_IDC:GBPTRY)  
InvestingScope  
FX_IDC:GBPTRY   BRITISH POUND / TURKISH LIRA
Trend Analysis Chart Patterns Technical Indicators GBPTRY GBP TRY britishpound turkishlira Forex Currencies currency
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trendanalysis chartpattern indicator gbptry gbp try britishpound turkishlira forex currencies currency
The pair has been trading on a strong 1W downtrend (Highs/Lows = -0.4121, B/BP = -0.5351) that recently appears to be slowing down. This may be an indication of a support on the 1W level (6.2070 - 6.5610). However a sequence of repetitive Triangle patterns illustrates that at least a -3.54% decline is expected to follow the completion of the most recent Triangle. This puts our short TP at 6.5100.




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