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Back Technical analysis
GBP/USD Analysis and Forecast – May 21st: Geopolitical Factors Outweigh Inflation Data
On the hourly chart, the GBP/USD
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On the hourly chart, the GBP/USD pair reversed once again in favor of the British pound on Wednesday and climbed toward the resistance level of 1.3454–1.3466. A rebound from this zone favored the U.S. dollar and triggered a decline toward the 50.0% Fibonacci level at 1.3408 and the support level at 1.3349–1.3355. A consolidation above the 1.3454–1.3466 level would allow traders to expect renewed growth toward the resistance level of 1.3526–1.3539. The wave structure shifted to a bearish outlook
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Samir Klishi,
Analytical expert of InstaForex
© 2007-2026
Summary
Urgency
Analytic
Grigory Sokolov
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