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Gbpusd technical analysis 19-08-2020

Gbpusd has rallied since the beginning of the week till 1.3260$ area which is 61.8% fibonnaci level for the fall from .14330$ to 1.14$.

The crictical fibonnaci level showed strong resistance for the pair which reversed its weekly rally to get back below 1.31$ handle. 

In short term , the pair is still facing further weakness and it is recommended to open short positions anywhere near 1.3140$ area with target 1.2860$ area.
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