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GBPUSD Short: Hanging Man on 1hr Timeframe

British Pound / U.S. Dollar (FX:GBPUSD)  
sanasaeed  
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Support and Resistance Candlestick Analysis GBPUSD gbpusdshort gbpusdanalysis gbpusd1hr gbpusdsignal
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trendanalysis supportandresistance candlestick gbpusd gbpusdshort gbpusdanalysis gbpusd1hr gbpusdsignal
Trend: Bearish trend followed by LL and LH.
Support/Resistance: Blue lines are S/R levels on 1D while red lines are on 4h timeframe.
The reason behind the Short: A hanging man was spotted near the 4hr resistance at the LH of the chart. It indicates the potential downfall of the price towards the lowered support area.
SL: It is placed on the previous LH of the chart.
TP1: Placed near the support.
TP2: Placed just a little below the support area.
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