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T3-Consultancy

GBPUSD H4: Bearish outlook seen, reversal below 1.2170

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 forexsignals
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trendanalysis harmonicpatterns chartpattern gbpusd gbp usd gbpusdlong gbpusdshort forex forextrading forexsignals
On the H4 time frame, prices are approaching the resistance zone at 1.2170, in line with the Fibonacci confluence levels where we could see a reversal below this level. The 1.2170 resistance zone coincides with the graphical resistance zone, 38.2% Fibonacci retracement and 100% Fibonacci extension level. Prices are facing bearish pressure from the Ichimoku cloud as well.
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