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Sterling Play

Sterling Play

With some major UK data scheduled over the next couple of days, sterling is at a crossroads and getting squeezed with a break either side imminent.

Should it break into the Blue Zone , would consider going long on a retest of the upward trendline.

Conversely , a break into the redzone particularly below 1.43700 and the scenario turns bearish.

Both scenarios offer good risk reward and the countdown is on.

Daily GBP/USD

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by Drakopoulos

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