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GBPUSD 6 Nov 2023

GBPUSD 6 Nov 2023 on the Dual timeframe. This pair managed to break S1 at the end of last week after previously being in a price position quite far from S1. Although it still shows a bullish trend, but if we refer to the stochastic indicator it appears that there has been saturation due to overbought. If this pair is unable to continue the bullish trend and back down through S1 to S2, then go-short can be an option. Otherwise, if this pair is able to maintain the bullish trend that has been running then go-long is the choice. Keep an eye on market movements and consider all possibilities before making a trading decision.

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