Sasha Singh
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Will GBPUSD reverse or continue to follow downtrend?

GBPUSD as expected fell down breaking the support trend line on an upward channel. The pair broke the previous support at 1.6308 and fell down further. Now the next support level is at 1.6214 and 1.6210. Also on the stochastic oscillator we can see that the pair is now heading towards the oversold zone so we could see some reversal in the trend in near future. Also 50 day moving average is above the 100 day moving average and heading in upward direction.