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FX.co ★ GBPUSD M5: Bearish Rectangle

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Technical Analysis Patterns

2022-04-22T17:53:52
Signal strength 1 of 5

GBPUSD M5: Bearish Rectangle

Bearish RectangleAccording to the chart of M5, GBPUSD formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 1.2843 - 0.0000 and support 1.2828 – 1.2828. In case the resistance level 1.2828 - 1.2828 is broken, the instrument is likely to follow the bearish trend.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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