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Back Technical analysis
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Back Technical analysis
GBP/USD: November 15. News Flow Prevents the Pound from Rising
On the hourly chart, the GBP/USD
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On the hourly chart, the GBP/USD pair retraced on Thursday to the resistance zone of 1.2709–1.2734, below which it had previously consolidated. However, a rebound from this zone favored the US dollar, resuming its downward movement toward the support zone of 1.2611–1.2620. Consolidation below this zone could pave the way for further declines toward the Fibonacci 200.0% level at 1.2570. The analysis of the wave structure remains clear, indicating that
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Samir Klishi,
Analytical expert of InstaForex
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