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24.08.2023 07:42 PM
GBP/USD: 1.2625 obstacle violated

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GBP/USD Downside Continuation!

The currency pair dropped deeper and now is located at 1.2619. You knew from my previous analysis that the GBP/USD pair could resume its drop as long as it stays below the downtrend line.

I've told you that the 1.2625 former low represented a downside obstacle. So, only dropping below it may announce further drop.

GBP/USD Outlook!

Stabilizing below the 1.2625 obstacle confirms a deeper drop and is seen as a new selling opportunity.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
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