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Back Technical analysis
GBP/USD – Smart Money Analysis: The Pound Weakens Due to Geopolitical Uncertainty
The GBP/USD pair declined for four
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The GBP/USD pair declined for four consecutive trading days. As a result of this sell-off, bears reached imbalance zone 18, which represents a bullish pattern. Therefore, bearish pressure may end near this pattern. This week, we saw a confident reaction from imbalance 18, including its full fill, a sharp rebound in prices, the formation of a bullish engulfing pattern, and a return to bearish imbalance 19. Thus, bulls have taken the first step toward forming a new bullish impulse, but
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Samir Klishi,
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