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Comprehensive Analysis in Trading: Mastering Methodologies
Hello traders, GBP/USD has been showing some interesting technical movements lately. Yesterday and today, we saw a good rise pushing towards the 1.35 level, where a strong resistance zone is present. From 1.3520, we have already seen a decent pullback at this point. I believe that the pair will continue to decline further, at least down to the 1.3450 level. From there, a retest could lead to a resumption of the upward movement. However, I am not rushing to open any long positions. The recent key level at 1.3390 remains untouched, so there is a possibility that price might retrace there in the near future. Therefore, I am considering opening long positions only after this level is reached. Tomorrow is the eve of Western Christmas, so market activity is expected to decrease.