Forex: GBP/USD Technical Analysis – Nudging Short Trade Target
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- Prices turned lower as expected after showing Shooting Star candle, negative RSI divergence
- We entered short at 1.6172, targeting 1.6063 (23.6% Fib) initially
- Close below 1.6063 exposes 1.5941 (38.2% Fib); initial resistance now at 1.62 (trend line)
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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