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We're in a downttrend towards 1.20952.

We're in a downttrend towards 1.20952. | 04 October 2021

04 October 2021, GBP/USD

We're in a downttrend towards 1.20952.

Wave Analysis

During the previous trading week, the British pound rallied to the lower side and is currently rallying to the lower side and is still pretty much bearish both on the weekly and on the weekly charts. If the price breaks below the immediate trendline and should push the price much lower with an ideal target set at 1.30440 and may continue much lower with an ideal target set at 1.20952. As it is right now, only sell positions looks ideal and can safely be recommended.

Trade Recommendations:

We're in a down trend towards 1.20952.

Bob Stan
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