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GBP/USD Hook Pattern for a New Bearish Impulse

By:
Nenad Kerkez
Published: Apr 7, 2021, 08:09 UTC

The GBP/USD has formed 1-2-3 pattern and this is a U-turn after a retracement. Sell trades are going well and the market is bearish.

GBP/USD Hook Pattern for a New Bearish Impulse

In this article:

The GBP/USD has formed 1-2-3 pattern and this is a U-turn after a retracement. Sell trades are going well and the market is bearish.

The trend line shows a bearish continuation move as the price was unable to break the previous high. We have a continuation after the POC 1.3875-1.3900. Close below 1.3799 will be bearish for the pair and we should see a continuation towards 1.3749 and 1.3680. Market is bearish and there is no sign of the trend change. Selling the rallies continues.

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Cheers and safe trading,

Nenad

 

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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