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Stone_Haven

💡 GBPUSD: A reversal pattern appears

Long
British Pound / U.S. Dollar (OANDA:GBPUSD)  
Stone_Haven Updated   
OANDA:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Technical Indicators Fundamental Analysis GBPUSD gbpusdlong gbpusdanalysis gbpusdsignal trendtrading tradingsignals tradingview forexsignals
3
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trendanalysis indicator fundamental gbpusd gbpusdlong gbpusdanalysis gbpusdsignal trendtrading tradingsignals tradingview forexsignals
GBPUSD sustained a downward trend in its recent session, although the decline was moderated by a recovery towards the session's end. A notable development is the emergence of a bullish pin bar pattern on the daily chart, indicating a weakening of selling pressure. This suggests a potential conclusion to the correction phase and a likelihood of the price resuming its upward momentum, aligning with signals of reversal observed in the preceding session.
Comment:
GBPUSD as before, you can see that the market fell to the support area around 1.2250, then formed, giving us a descending setup but there is no signal candle to enter an order. After that, a bullish candlestick is formed (arrow), which is also the signal candlestick of the model breaking the failed resistance zone, so you can consider buying with this signal.
Comment:
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