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GBPUSD Consolidates And Forms Inside Pin Bar Setup

The GBPUSD consolidated on Monday, forming an inside pin bar in the process. Given that the market has just recently repelled down from key resistance up near 1.5750 and the bearish pin bar that formed there on August 21st, we could see this bearish momentum continue. If price can break down through the mother bar low from today's inside pin bar setup, we could see another leg to the downside, with key support not seen until down around 1.5425.

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