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GBPUSD ANALYSIS (01 DESEMBER 2020)

Story by : MRG Premiere
Category at:
Published : December 01, 2020

GBPUSD ANALYSIS (01 DESEMBER 2020).


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Image: GBP / AUD H4 Chart

(GBP / AUD) On the H4 Chart, you can see that the current price movement is developing a Rising Wedge pattern, which is supported by a rejection in the resistance area, meaning that the price has the potential to weaken again to the harmonic support area when a breakout occurs.


TRADING STRATEGY:

SELL Stop at the 1.3283 area

Target: 1.2920

Stop Loss: 1.3399


DISCLAIMER

Always pay attention to your money management, this trading idea is only for consideration, but trading decisions, risks, profits and losses are all the responsibility of each trader.