FXHighway

Sterling rebounds, more bearish targets to be waited

Short
FX:GBPUSD   British Pound / U.S. Dollar
2
Target: 1.4960
Risk: 1.5530

Technical Reasons:

Strong bearish rebound from the descending channel’s resistance, and targeting this channel’s support around 1.4960.

Negative pressure from the exponential moving average 50 and the rise of the bears’ power indicator support more decline.


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