Forex: GBP/USD Technical Analysis – Bearish Reversal on Hand?
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- A Bearish Engulfing candle pattern hints a move lower is ahead
- Breaking below 1.6475 (23.6% Fib ret.) exposes 1.6356 (38.2% Fib exp.)
- Near-term resistance is at 1.6667, the December 24 high
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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