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GBPUSD Potential Triple-Bottom

The British pound is attempting to recover from the 1.3800 level against the US dollar currency ahead of the United Kingdom CPI inflation report. The four-hour time frame shows that if GBPUSD bulls can defend the 1.3740 level then a triple-bottom pattern could be forming. A powerful counter rally in the GBPUSD pair could take hold if this bullish price pattern is confirmed.

The GBPUSD pair is only bullish while trading above the 1.3900 level, key resistance is found at the 1.4000 and the 1.4060 levels.

If the GBPUSD pair trades below the 1.3900, sellers may test the 1.3800 and 1.3740 support levels.

These trading ideas can only be applied to the intraday trading strategy and remain valid for 24 hours after publication. They are based on historical data and analysis and do not guarantee constant profit. You remain solely responsible for your decisions and the financial risks you take. In case your pending order is not executed within a single trading day, please, do not forget to cancel it.

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