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Back Technical analysis
GBP/USD Forecast and Analysis – May 18th: Pair Remains Under Pressure Amid Middle East Tensions
On the hourly chart, the GBP/USD
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On the hourly chart, the GBP/USD pair continued its decline on Friday and consolidated below the 1.3349–1.3355 level. On Monday morning, the pair returned to this zone. Therefore, a rebound from this area today would favor the US dollar and a renewed decline toward the 76.4% Fibonacci retracement level at 1.3277. Consolidation above the zone would allow traders to expect some growth toward the 1.3408 and 1.3454 levels. The wave structure turned bearish last week. The latest completed upward
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Samir Klishi,
Analytical expert of InstaForex
© 2007-2026
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