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GBPUSD Bearish Signs
Written by Chris Regan, 27.9.2017
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GBPUSD weakend today after reaching resistence at 1.3430. Coupled with the US durable goods uptick from August we see the dollar strengthening and GBPUSD pair weakening. Technical indicators show a southward price direction including the 20 (4H) SMA.
Pattern recognition predictions forcast a drop to 1.3369 a reasonable price target to hit since the pair has already droped to 1.3370 today. As the current 1H uptrend pans out we're looking for the optimal reveral point. The pair is looking bearish over the course of the day.