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Back Technical analysis
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Back Technical analysis
GBP/USD – September 17: The Pound Weakens Under Pressure
On the hourly chart, GBP/USD rebounded
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On the hourly chart, GBP/USD rebounded from the 1.3448–1.3454 resistance level on Wednesday and declined to the 38.2% Fibonacci level at 1.3381. Today, many traders are expecting a recovery, which could occur if the pair consolidates above 1.3381, with targets at 1.3414 and 1.3448. Consolidation below 1.3381 would increase the chances of a further decline toward the next levels at 1.3339 and 1.3272. The market situation has turned bearish. The latest completed upward wave failed to break the previous
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