Strategy: Pending Short
GBPUSD put in a bearish Hammer candlestick below resistance at 1.5778, the July 12 low, hinting a reversal lower is ahead. We will wait for confirmation of the turn on a daily close below 1.5661, the midpoint of the October 12 candle, to actively look for selling opportunities.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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