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GBPUSD – Sterling/dollar pin bar buy signal from support

The GBPUSD has been flirting with a key support level near 1.2400 in recent weeks, a level we mentioned as a potential buy area in our weekly market analysis. Today, we can see price initially fell under that level before bulls came in and pushed price higher, resulting in a bullish pin bar buy signal from key support. We can look to buy on any weakness whilst above 1.2400 and the obvious upside target is the recent highs near 1.2700 – 1.2770 area.

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One Comment

  1. Ntsako says:

    Always insightful articles, it’s absolute pleasure reading your articles and blogs,always looking forward to Mondays to see your analysis, spot on.
    Thank you once more.

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