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DLavrov
Sep 26, 2016 1:43 PM

GBPUSD Trading Idea 

British Pound/U.S. DollarFXCM

Description

Price reached the support level which is a barrier for possible down movement. We have to pay attention on price action near this support level. If we have reversal candlestick pattern, it will be a good signal for possible up movement. We'll need to get price reversal confirmation from RSI and MACD. These indicators will have to reverse and start rising. We will be able to open long trades based on hourly charts. But if price breaks the support level, we'll open short trades. Just we'll have to get confirmation from DMI and falling MACD.
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