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GBP/USD daily chart

GBP/USD has been under extreme selling pressure in the last weeks of trading.  


GBP/USD 4-hour chart

GBP/USD is trading below its main simple moving averages a suggesting bearish bias in the near term.  


GBP/USD 30-minute chart

GBP/USD is trading below its main SMAs suggesting a bearish bias in the short term. As the USD is slightly weaker across the board bulls are attempting a recovery above 1.2600 figure. The trend remains down and bulls would need to initially break 1.2700 to create a meaningful recovery. With the USD slightly weaker it remains to be seen if bears can continue to drive the currency pair to new lows below 1.2600 figure this Thursday.

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