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Back Technical analysis
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Back Technical analysis
GBP/USD, April 17th: The Pound Moves into a Correction
On the hourly chart, the
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On the hourly chart, the GBP/USD pair continued its decline on Thursday after rebounding from the 61.8% Fibonacci retracement level at 1.3596, and this morning it consolidated below the support level of 1.3513–1.3539. Thus, the decline in quotes may continue toward the next support level at 1.3428–1.3437. A consolidation above the 1.3513–1.3539 level would again favor the pound and a resumption of growth toward the 1.3596 level. The wave structure has shifted to a "bullish" one. The latest
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Samir Klishi,
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