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The GBP/USD is in a triangle chart pattern with multiple support and resistance trend lines near it. Price will need to break the S&R to start a new trend.
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The GBP/USD indeed completed a bearish ABC (orange) zigzag yesterday, which is probably part of a larger WXY correction (grey). Price could show bullish reversal if price manages to break above resistance (orange). A break below the 100% Fib shows bearishness.
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1 hour
Origin: Admiral Markets
