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caldooninvestment
Nov 10, 2021 2:44 PM

GBPUSD - Down to the 1.34200! Short

British Pound/U.S. DollarFXCM

Description

-GBP/USD reverses Friday’s rebound, two-month lows back in sight.

-Cautious BOE, USD bounce and Brexit woes weigh on the cable.

-Bearish daily RSI points to more weakness on the cards.

-The mixed market sentiment combined with escalating Brexit concerns take the wind out of GBP/USD brief recovery from two-month lows of 1.3424 reached Friday. Brexit News: UK appears set to trigger Article 16

-A daily closing below the support line could fuel a fresh drop towards the 1.3411 September lows. Further south, the 1.3400 round number could be threatened.

Credits: D. Mehta
Comments
AbdullahK10
can I wait for 1.34500?
financialflagship
Strong analysis, keep up the good work. 🙌
JustTradeSignals
Expecting a bounce :-)

hafiz777
well done but without correction
TradingBonus
Great work!
Leo-btm
still bearish
born2bwylde2005
go full sell we are actually high in a descending wedge pattern we are slowly getting closer and closer to apex eventually but right now you can just sell and ride it down
Helical_Trades
I enjoy of your analysis bro !
MMBTtrader
price can touch that support zone again
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