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T3-Consultancy

GBPUSD H4: Bearish outlook seen, further downside below 1.1750

Short
British Pound / U.S. Dollar (VANTAGE:GBPUSD)  
T3-Consultancy  
VANTAGE:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Harmonic Patterns GBPUSD GBP USD gbpusdlong gbpusdshort Forex forextrading forexsignals
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trendanalysis chartpattern harmonicpatterns gbpusd gbp usd gbpusdlong gbpusdshort forex forextrading forexsignals
On the H4 time frame, a pullback to the support-turned-resistance zone at 1.1750 which coincides with the Fiboancci confluence levels presents an opportunity to play the drop to the support zone at 1.1550. Failure to hold below the 1.1750 resistance zone could see prices push higher to the next resistance zone at 1.1880. Stochastic is approaching resistance at 91.40 as well supporting the bearish bias.
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