GBP/USD Down 1 Pips On Hourly Chart, 5 Day Up Streak Ended; in an Uptrend Over Past 90 Days

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Hourly Update (Last Updated February 26, 2021 1:57 GMT) Currently, GBPUSD’s rate is down -1 pips (-0.01%) from the hour prior. This is the 2nd straight hour GBPUSD has seen its price head down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GBPUSD. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The…

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