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GBP/USD Crash Day Close is a Useful Pivot

GBP/USD Crash Day Close is a Useful Pivot

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

GBP/USD Crash Day Close is a Useful Pivot

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-No change regarding Cable comments. Recent updates noted that “GBP/USD has broken through the bottom of the triangle. As such, focus is lower towards 1.2612 (127.2% expansion of triangle width) and eventually the triangle objective at 1.2115.” GBP/USD crashed 2 days after the pattern breakdown and reached its pattern objective in the process. Given the measurement, the rate could attempt to stabilize.

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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