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GBP/USD Going Towards the D L5

By:
Nenad Kerkez
Published: Nov 2, 2020, 08:50 GMT+00:00

The GBP/USD is in downtrend and we can expect a further continuation down if 1.2860 fails.

GBP/USD

The GBP/USD is in downtrend and we can expect a further continuation down if 1.2860 fails.

A retracement up to 78.88.6 fib is where the POC zone is. D H3 camarilla pivot adds to the confluence. We should see a rejection down towards the D L3. Below D L4 -1.2879, next is 1.2860. The final target is 1.2822. The pair is strongly bearish and only a move above 1.2984 will negate this scenario.

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About the Author

Nenad Kerkezcontributor

M.Ec. Nenad Kerkez aka Tarantula is Elite CurrenSeas Head trader and a valued contributor to many premium Forex and trading websites.

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