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GBP/USD trading after breakout of a trendline

Although exponential moving average (EMA) crossover and RSI crossover already took place already, we waited for more confirmation for a bearish signal. Then breakout of trendline took place, the GBP/USD retraced back to trendline which is a frequently occurring phenomenon after such breakouts. As the pair formed hanging man candle pattern, we entered sell. We are expecting an immediate target at 1.36.


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