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GBPUSD drifting lower but lacks momentum

FX:GBPUSD   British Pound / U.S. Dollar
In my weekend analysis, I pointed out that the Weekly Pinbar candlestick pattern indicates that GBPUSD Bulls are getting weak. That set-up is still valid.
However, in the 4H Chart, downtrend lacks momentum.

A break below the 4H support will confirm the downtrend.

My plan is to either sell close to the previous high around 1.26 or wait for a confirmation of the downtrend and then sell on lower TFs.
Comment: just a quick update. While Gbpusd reaches a proper zone, we had a good 200+ pips profit from buying GBPAUD yesterday. Thought this might be helpful to the GBP traders

Comments

First time i see corectly and onest signals,,, good job man
+4 Reply
its very good
+3 Reply
keep up the great work <3 it!!
+3 Reply
please provide target also
+2 Reply
Awesome Analysis
+2 Reply
Looking forward to seeing where this goes.
+2 Reply
Thanks prof. Great thoughts
+2 Reply
Thank you
+1 Reply
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