In my analysis of GBP/USD on the 4 Hour Chart, Price is currently at the neckline of the "W" Pattern. For A Bearish entry: Price must break the neckline and retest, then continue the Bearish Trend. Take profit at price $1.2448, next area of Support. For a Bullish Entry: Price must break above the Daily resistance, then retest, then begin moving Bullishly. TP at price $1.2725,4 Hour Resistance or the Monthly Resistance of $1.2837.
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