GBPUSD is trading at 62% Fibonacci retracement level. It has previously tested the 62% level thrice but failed to give a breakout above 62% Fibonacci retracement level. Now it might reverse its trend on the downside channel pattern, as you can see in the chart. One can initiate the trade on the short side with stop loss are 62% Fibonacci retracement level and the target will be the support line of channel pattern.
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