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GBP/USD New Lows are Smiling to Sellers

By:
Nenad Kerkez
Published: Sep 23, 2020, 08:16 UTC

The GBP/USD is clearly bearish. At this point the price stands at the W H5 so we might see a rally which sellers might use for selling at a better price.

GBP/USD

There are 2 POC zones where we could see new wave of selling. The first POC 1.2760-90 is additionally supported by the order block (red line). In the case of a deeper retracement up watch for 1.2820-60. Reversal patterns in the zone could also show sellers and we should see a further drop towards 1.2780, 1.2685 and 1.2650. Below 1.2650, 1.2579 is the target. Selling the rallies continues.

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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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