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Expecting the price on the level (1/8)

25 July 2016, GBP/USD

Four-hours chart of GBPUSD. The pair continues to consolidate around (2/8). But both a global and local situation is not in favor of bulls. At the local level, they had a chance of a good corrective recovery, but they did not use it. The local area of ​​support has been broken and a new strong resistance area was formed. The main plan is a decline with the next target at (1/8). This option would be canceled if the price can come back and to gain a foothold above (2/8).

Solutions: no

Nikolay Krishtopov
Analyst of «FreshForex» company
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