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ForexVader
Mar 24, 2015 12:58 AM

Preparing to Pound Down - GBPUSD Short

British Pound/U.S. DollarFXCM

Description

Consolidation over the last week has created this nice ascending triangle, finding resistance at 1.5000, which coincides with the 0.382 Fibonacci Retracement Level. Space is running out now and the last 4H candle is a nice Harami Gravestone. Time to break out on the downside.

Safe entries would be at 1.49 with a SL at 1.503.
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