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Today, the GBP/USD pair is testing a significant support zone of 1.3810-1.3793. Last week, attempts to overcome this zone were unsuccessful. If today's closing occurs below the level of 1.3793, then the bearish trend will become the main one for the next 5 days.
In order for the upward movement to develop, it is necessary to close today's trading above the support zone of the WCZ 1/2. This will indicate that the July high will be tested again in the near future. Today is the decisive day, so it is recommended to open deals tomorrow in accordance with how the American session will close.
It is important to understand that transactions made near the WCZ 1/2 will be profitable, since the movement potential will be about 200 points. Setting a stop loss of 40-50 pips will allow you to get a risk/profit ratio of 1 to 5 and higher. At a distance, these transactions will bring a positive result.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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