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GBPUSD Daily Forecast: July 31

GBPUSD Daily Forecast: July 31
Tuesday, July 31st, 2018 @ 2:34 am by Setyo Wibowo

About Setyo Wibowo:

Setyo Wibowo Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own. Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.

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GBPUSD Forecast
The GBPUSD was indecisive yesterday. The bias is neutral in nearest term. Price is traded around the upper line of the bearish channel as you can see on my H4 chart below which is a good area to sell with a tight stop loss above 1.3215. Immediate support is seen around 1.3070. A clear break below that area could trigger further bearish pressure retesting 1.3000 psychological support area which remains a good place to buy with a tight stop loss as a clear break below that level would resume the major bearish trend testing 1.2750 region.

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