Checkmate
Short

GBPUSD - More downside possible..

FX:GBPUSD   British Pound/U.S. Dollar
59 0 4
GBPUSD             looks like the correction extends towards the lower channel breaking the previous lows. 2 Possibilities are shown here and my opinion is that it makes one more leg down before going up. Lets see how the pattern plays out. I am expecting a pullback and not break the intermediate down trend giving us an opportunity to sell. Keep an eye on this pair coming week. We may see a move to downside coming soon.
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