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GBPUSD: Leg Three Completed Ready for Next Wave.
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Note: This is only for Educational purposes; this is not investment advice.
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if you follow my analysis since last week you will see how gbpusd has been in our favor and today this Monday we see gbpusd .....right now i will sell to 1.20944 for more signal insight inbox me
also i will tagged gbpusd previous moves so you understand better
We can see that GBPUSD has formed a double top and price has broken the neckline of the M formation, now price has retested the neckline so I will only be looking for short trades targeting next S/R zones as illustrated in the chart.
Previously, I took a short trade when price retraced back to the 0.618 level (also my favourite retracement level),...
The pound has reached a resistance line (the average line is moving 100) and it may respond to declines especially that we have not yet departed from the downtrend.
The RSI + Stochastic fully supports the Bear Model theory.