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MarcellusLUX

GBP/USD in resistance level, possibility of a sell trade

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
MarcellusLUX  
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis GBPUSD gbpusdshort gbpusdanalysis gbpusdsignal gbpusdtrade gbpusdidea gbpusdsetup gbpusdsell
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trendanalysis chartpattern beyondta gbpusd gbpusdshort gbpusdanalysis gbpusdsignal gbpusdtrade gbpusdidea gbpusdsetup gbpusdsell
GBP/USD went up quite strongly over the last few days but yesterday, the bulls
took a breather. The rally stopped at a familiar resistance level and based on the
current price action, there is probability of a further drop.

The short-term support at 1.4105 needs to break for the downtrend to accelerate.

If this weakness continues, selling GBP/USD@1.4122-1.4150 with SL above 1.4240
and TP at 1.3950 is potential sell signal.
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