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GBP /USD Bullish Z Pattern

gbpusd z pattern

The past 24 hours to 23:00 GMT, the GBP is seen to have declined 1.23% against the USD and closed at 1.3108.
What could drive the GBP into more selling interests was when the International Monetary Fund (IMF) slashed UK’s growth forecast for next year and warned that the Brexit decision has damaged the economy’s short-term growth prospects.
In trading via chart patterns, the Z pattern above signals still some selling pressure at least within the blue zone area which indicates a possibility if at all bearishness prevails, to progress downwards and seek support at the 1.2950’s area. The SZ pattern still holds its clarity and strength of pattern which adamantly sees potential to the upside to the 1.3720’s area ONLY if it crosses the 1.3200 area.

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