CPM

GBPUSD Gives Fakey Signal to continue its downtrend-Trade Setup Idea:30.08.2019

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InstaForex
All charts are illustrated in this commentary are Daily Chart Time Frame except I mention other

Currency: GBPUSD

Chart (Click to Download Newyork Close Chart): MT4 GDPUSD Daily Chart

Trend (Click to Read what is Trend): Downtrend

Support Point : 1.20
Resistance Point (Click to Read what is Resistance): 1.2575

Signal (Click to Read My favoriteForex Signals): Fakey sell signal printed on 50% Fibonacchi Retracepoint.
My Opinion: GPBUSD start down trending from the resistance point 1.33867 and continue its down trend. Finally it has reached its lowest support point 1.20 and gives a minor bounce back. A bearish fakey sell signal printed from the Fibonacchi 50% retracement which is also support by 8/21 Day EMA(Exponential Moving Average). We can expect this market downtrend will continue to next support 1.20 an dmore. I will notify you when new signal will print in this point. Submit your Email to get notification and stay with us.

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