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Back Technical analysis
GBP/USD – September 29: The Pound Remains Under Pressure Against the Dollar
On the hourly chart, GBP/USD rebounded
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On the hourly chart, GBP/USD rebounded from the 100.0% retracement level at 1.3272 on Monday, reversed in favor of the U.S. dollar, and resumed its decline toward the 1.3164–1.3177 support level. A consolidation above 1.3272 would allow traders to expect further growth toward the 76.4% Fibonacci level at 1.3368. The market situation remains bearish. The latest completed upward wave failed to break the previous peak, while the new downward wave, which is still forming, broke the previous low. Thus,
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