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GBPUSD could test LVZ for next short

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 11, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The GBPUSD is currently in retracement mode but is still in a strong bearish trend. The BOE was dovish on its last statement as traders expect a rate hike delay in late 2016. Additional GBPUSD tanking was boosted by strong NFP report. Technically the pair dropped after LVZ pattern was formed ( Low Volatility Zone ) which has historically been shown as a pre breakout consolidation pattern. This time LVZ is a part of POC zone which comes around 1.5170-90 (H3,WPP,61.8, EMA 89) and if the pair

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