Monday, January 25, 2021 5:27 AM EST

The GBP/USD is a bit overbought. The price hasn’t made any substantial retracement since touching the high at 3750. (FXB, UDN)
Lower high on the chart suggest a pullback to 88.6 fib. If bears take over the bulls, we should see another drop and a retest of Friday lows. Failure to close below Friday low might make bulls stronger. At this point the POC 3705-15 should reject the price down towards 1.3660 and 1.3620. Only a break of 1.3750 will make this scenario invalid.

The Analysis has been done with the Black Widow system.
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Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. On average around 80% of retail investor accounts loose money when trading with high leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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