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Back Technical analysis
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Back Technical analysis
GBP/USD. November 5th. The Pound Awaits Support from the Bank of England
On the hourly chart, the GBP/USD
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On the hourly chart, the GBP/USD pair returned to the support zone of 1.2892–1.2931 on Monday. A rebound from this zone suggests a possible reversal in favor of the pound and a resumption of growth towards the 127.2% Fibonacci level at 1.3054. It's challenging for the bulls to launch an attack, but this week's news flow could support them. Although the odds are low at the moment, various scenarios remain possible.
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