Currently, GBP/USD is trading at 1.2564. The pair started a new down trend after breaking the at 1.2699. The pair is now trading in a down trend while moving in a lower-low lower-high pattern and the price has already hit the first target at 1.2465. It may hit the second target at 1.2320 if the price goes below the first target.
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Rishikesh Lilawat has over seven years of experience in trading Forex and commodities markets, out of which three years in two investment banks as a professional Forex and commodities trader. He holds an M.B.A degree in finance and business analytics from the University of Pune. Realizing the central role of a trader and because of his personal and particular interest in trading, He built skills in market research, technical analysis, fundamental analysis, risk management, and fund management, etc and focus his efforts on communicating and sharing views on market trends and patterns.