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GBP/USD: will the pound leave the ledge?
2019-11-11 • Updated
On the GBP/USD daily chart, "bulls" are trying to implement the "Splash and ledge" pattern. If they succeed, the risks of continuation of the rally towards 161.8% target in the AB = CD pattern will increase. In contrast, a move of quotes to the middle level of the 1.2770 - 1.2860 trading range can lead to the formation of "Shakeout-fakeout" pattern and development of the correction to the current uptrend.
On the GBP/USD hourly chart, the failure of buyers to move higher will be a sign of their weakness. It might also lead to the formation of the expanding wedge reversal pattern,
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Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...