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27.02.202015:46 Forex Analysis & Reviews: GBP/USD 02.27.2020 - Rejecetion of the Pichfork median line, buying opportuniteis are preferable towards the level of 1.3010

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Technical anlaysis:

Exchange Rates 27.02.2020 analysis

GBP/USD has been trading downwards. The price tested and rejected from the major support at 1.2865. I expect further rally and buying opportunities are preferable.

I would watch for buying opportunities due to rejection of the Median Pitchfork line and oversold condition on the Stochastic oscillator. I see potential for test of 1.3010 and 1.3060.

Resistance levels are set at the price of 1.3012 and 1.3062

Major support level is set at the price of 1.2865.

Petar Jacimovic
Analytical expert of InstaForex
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