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GBPUSD | FIBONACCI RETRACEMENT

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Hello Traders!

Price invalidated the channel and currently forming a bearish signal over Resistance area at 1.2260 which was formerly Support of the invalidated channel and looking at the chart pattern, price is rejecting the fibs 50% retracement level, this is confluence, rooting to short this pair down to around 1.1950 level.

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Regards

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