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GBP/USD Signal - GBP Trade Balance - 12 Aug 2021

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Signal Details
Entry Price: 
1.3868
Take Profit: 
1.3711
Stop Loss: 
1.3965
Direction: 
Sell
How we trade
Average: 5 (1 vote)

GBPUSD has traded into resistance prior to the GBP Trade Balance data, which shows the UK's balance between imports and exports. Technically the pair has broken a key support and is now retesting the support as resistance. The RSI has also turned bearish, and we anticipate continued downside into the 1.3711 level.

Submitted by Toni H. on Thu, 12 Aug 2021 00:28:01 GMT

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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion. All risks and coasts associated with online trading are your responsibility.

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