GBPUSD 2018-08-06

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British pound managed to met target 1.3000 zone as we advised last week

market resumed drop today where market seems trying to test support levels of our downtrend channel which is around 1.2850-75 zone

As we see over the chart, that support 1.2850-75 may drive for rebound correction toward 1.3000-40 zone

Below 1.2850 market may head for farther drop wave which may target 1.2775 and 1.2590

  Support Resistance
Level 1 12850-75 1.2950
Level 2 1.2770 1.3000
Level 3 1.2715 1.3040-50
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Rami Abu-Dra`a is a Chief Technical Analyst at Orbex and a holder of B.S Degree in Banking & Financial Science / Subsidiary Economic. Rami ‘s strategic vision of forex markets, enhanced by more than a decade of trading experience, allows him to efficiently mix fundamental and technical analyses, and find the best investment ideas for Orbex traders.

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Rami Abu-Dra`a is a Chief Technical Analyst at Orbex and a holder of B.S Degree in Banking & Financial Science / Subsidiary Economic. Rami ‘s strategic vision of forex markets, enhanced by more than a decade of trading experience, allows him to efficiently mix fundamental and technical analyses, and find the best investment ideas for Orbex traders.

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