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GBP/USD : Formation : triangle

GBP/USD

Technical analysis – time frame H4

The price is forming formation “triangle”

Technical indicators : The price stopped at FiBo 50 % of the last short movement ,as well as diagonal support (
current resistance ).

The price is below 50 SMA and 100 SMA

Entry : 1.42

SL: 1.4341

Alternative scenario : If the price breaks out diagonal support the market will enter in choppy

Jr.Trader: V. Mitov


 Varchev Traders


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