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GBP/USD Downside Paused

The GBP/USD posted humble gains today, is fighting hard to stay in the green zone, but remains to see if the buyers will be strong enough to keep the price higher. Is trading within an ascending channel, between the warning line (wl1) and the 150% Fibonacci line (ascending dotted line).

Is expected to retest the warning line (wl1), we’ll see how will react because a rejection will bring us a great buying opportunity, but I want to remind that a breakdown will open the door for more declines.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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