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1/28/2016 3:32:55 AM

GBPUSD exhausts its positive chances - Technical Analysis - 28-01-2016



GBPUSD tumbled in the short term and intraday levels, trespassing the SMA for the last fifty hours period, and getting exposed to its negative pressure, which led to even more tumbles, reaching eventually the pivotal support of 1.4235, which coincides with a leaning on the upward short-term trend line as shown in the attached chart, marking the last chance for the pair to gain positive momentum to rise again, along with an influx of positive signals from relative power indicators.

Therefore we expect the pair to reverse higher, as long as the support of 1.4235 holds on, targeting thereafter the resistance of 1.4360.


Target
Risk


Support
Resistance


Trend Bullish

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