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GBP/USD Trade Idea

Thursday, December 10, 2015 12:13 PM UTC

Harmonic Pattern Formed - Bearish Gartley pattern
Potential Reversal Zone (PRZ) -1.5250
The pair has broken short term resistance 1.5160 and is holding well above that level. It is currently trading around 1.51750.
Any break above PRZ will take the pair till 1.5280/1.5300/1.5340 level. The pair's minor resistance is around 1.5190 and break above targets 1.5220/1.5250.
On the lower side the pair's support is around 1.5160 (resistance turned into support) and break below will drag the pair further down till 1.5100/1.5050 level.

It is good to sell on rallies around 1.5250 with SL around 1.5300 for the TP of 1.5155/1.5100

R1-1.5220

R2-1.5250

R3-1.5305

Support

S1- 1.5150

S2-1.5100

S3-1.5050

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GBP/USD Trade Idea

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