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The GBP/USD pair has shown signs of bearish rejection just below 1.3200, initiating the recent bearish movement.
After bearish closure below the price level of 1.2800 on a H4 candlestick, it continued to fall toward 1.2500 where the depicted uptrend line comes to meet a significant Fibonacci Level.
This should be considered for Intraday traders as a valid BUY Entry with Stop Loss to be placed just below 1.2500.
However, signs of hesitation were expressed in a narrow sideway movement which ended-up with bearish continuation.
Moreover, further bearish decline was expected towards 1.2160 constituting a key-support level which was being visited earlier this week.
If confirmed to be broken, further bearish decline should be expected towards 1.1850.
On the other hand, any bullish pullback towards 1.2520-1.2600 should be considered for another SELL Entry.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
