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GBP/USD Follows Through from Bearish Candles

GBP/USD Follows Through from Bearish Candles

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD Follows Through from Bearish Candles

Chart Prepared by Jamie Saettele, CMT

Automate trades with Mirror Trader and see ideas on other USD crosses

-The 10/22 outside day in GBP/USD may set the stage for resumption of the downtrend that began with the head and shoulders break in August.

-A break under 1.5200 (parallel support) would suggest that the next leg lower (towards the April low) is underway.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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