GBP/USD Down 7 Pips in Last Hour; Entered Today Up For the 2nd Day In A Row

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Hourly Update (Last Updated February 22, 2021 1:51 GMT) Currently, GBPUSD’s rate is down -7 pips (-0.05%) from the hour prior. GBPUSD has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. Price action traders may also wish to note that we see a doji candlestick pattern on GBPUSD. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that…

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