Hello.
Let’s take a look at the GBP/USD hourly chart.
We see the currency pair coming down to a pretty strong trend line. Look for the pair to potentially continue down to test the trend line (1.6100 level).
From there, we’ll need to watch it to see how it reacts with the trend line acting as support.
The hourly chart still shows some underlying bullish pressure so let’s keep that in mind for longer term. This next downward movement will hopefully give us a good glimpse of what’s coming up ahead for this currency pair.
Good luck with trading and be sure to utilize your stops and apply your money management.
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