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GBPUSD Technical Analysis For 06-04-2017
Home / GBPUSD Technical Analysis For 06-04-2017

H1 Graph

The GBP/USD is probably still in a larger ABC zigzag (pink) within wave X (blue) as long as price does not break the resistance (red) trend line. Price is also at an even 1.25 resistance level. A break below support (blue) could spark the wave C (pink) part of the expected bearish zigzag.


H4 Graph

The GBP/USD is building a contracting triangle chart pattern (red/blue lines). A break above resistance (red) could see price complete wave E (green). A break below support (blue) could see price challenge the 61.8% Fibonacci level of wave X vs W (blue).

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