The British pound like other currencies falls against the dollar. The weekly support 1.5961 and 1.5960 fractal are key levels. We have to take it into account; below this level the sequence would be totally bearish for the pair. Therefore, we do not recommend entering any order below these levels. If it closes above 1.5961 on a 4 hour chart you can buy a pair. Do not forget the stop loss.
We noticed that a known pattern is forming, as you can see on the graph. Therefore, if the pair manages to break below the 1.59 level, it completely invalidates it and would enter a very bearish sequence.
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For detail explanation and best discovery on market trends you may visit via GBP/USD Technical Pattern. For November 07, 2012 (Daily Strategy) . Thanks for your support on GBP/USD Technical Pattern. For November 07, 2012 (Daily Strategy)
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