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GBPUSD Forecast And Technical Analysis July 30th

GBPUSD Forecast And Technical Analysis July 30th

Fundamentals:

GBPUSD remains under bearish pressure but managed to close above 1.31000 physiological level as the US data Friday was not above the expectations. The pair is trading in a narrow range last days because of the lack of major economic data on the UK side.

Technically:

On the H4 Chart, Cable is trading below EMA50 and MM 7/8 1.31300. We see a bearish continuation pennant pattern on the H1 chart. A break below will carry the price toward 1.30000 and an upside break would abort the immediate bearish outlook as the pair will move above EMA 50 and upper Bollinger Bands.

We will enter a trade according to the direction of the breakout.

Entry signals will be sent to members.

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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money

 

GBPUSD Forecast:  Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

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