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GBPUSD 24 Oct 2023

GBPUSD 24 Oct 2023 on Daily timeframe. After being bearish until it was well below the kumo cloud on the ichimoku indicator, the pair seems to initiate a bullish trend after hitting the S2 line. If the bullish continues and manages to break S1 then go-long could be an option for traders. But stay aware to the possibility of trend reversal when touching S1. When referring to the stochastic indicator, it can be seen that the moving average line has reached the 80 level. Therefore, go-short can be an option if a trend reversal occurs. Keep an eye on market movements and study multiple indicators before making trading decisions

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