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GBP/USD is under pressure

GBP/USD is under pressure

Information is not investment advice

GBP/USD formed a lower high just above 1.30 (psychological level, 50-week MA). It’s now hovering at the 200-day MA in the 1.2955 area. Daily Awesome Oscillator is at the negative territory. On H4, the 50-period MA is about to decline below the 200-period MA confirming that the market has topped in the near term. As long as the pound is trading below 1.2985, bears will dominate the market.  

gbpusd 14.png

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EUR/USD can correct more

EUR/USD fell below 1.1850 after reaching 1.1920 on Monday. The pair consolidated after the initial bearish move.

USD/CAD: sell in the downtrend

USD/CAD remains within a downtrend. As a result, selling the pair as it turns down from resistance is the best strategy. Support lies at 1.3125.

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