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GBPUSD Falls Lower After Pin Bar Signal

The GBPUSD has rotated lower over the last two days after forming a bearish pin bar sell signal up near key resistance on Wednesday. Note that the pin bar on Wednesday formed near key resistance around 1.5700 - 1.5750 area. Next week, if the bearish momentum continues, we could see the market rotate down into 1.5425 support. However, there is a small support level down near current levels around 1.5550 and if the market cannot close below that next week we could see the recent rally resume.

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