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T3-Consultancy

GBPUSD H1: Bearish outlook seen, further downside below 1.2230

Short
British Pound / U.S. Dollar (FOREXCOM:GBPUSD)  
T3-Consultancy  
FOREXCOM:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns GBPUSD GBP USD gbpusdlong gbpusdshort Forex forextrading sterling gbpusdbearish
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trendanalysis harmonicpatterns chartpattern gbpusd gbp usd gbpusdlong gbpusdshort forex forextrading sterling gbpusdbearish
On the H1 time frame, prices are facing bearish pressure from the resistance zone at 1.2230, in line with the 38.2% Fibonacci retracement and a pullback to this resistance zone presents an opportunity to play the drop to the support target at 1.2110. Stochastics is testing resistance at 95.66 as well where we could see further downside, in line with prices.
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