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BoonHooi
Mar 30, 2017 3:05 AM

GBPUSD - Reacted to Resistance Zone Short

British Pound/U.S. DollarFXCM

Description

I see that the pair reacted to the resistance zone at around 1.2570/85

Pattern Identification
There is no Harmonic Pattern forming this moment.
However there could be a classical bearish flag pattern to indicate a continuation pattern down lower.

Trade execution
Possible to take a short as the price retraces higher. Potentially at the top of the flag.
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