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www.fxtrainingzone.com GBP/USD trend continuation (Long) trade based on the 4 hour closing candle: - Belt holding 4H close above previous resistance at the 23.6 fib level 1.6468. - Price action found support off the 8EMAon 4H and closed aggressively above the 1H box range. - 1D shows the 8EMA had taken control with price finding support off the 21EMA. - Angle and separation developing nicely on the 8 & 21 EMA's on 1H and 4H charts.
www.fxtrainingzone.com GBP/USD short trade with an early 4 hour entry: - Important long term monthly levels. - 1H price action found resistance off 50% retracement line - Candles showing lack of conviction to the upside. - Monthly 21EMA present
