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GBPUSD






4/27/2016 4:01:00 AM

GBPUSD breaches an important resistance - Technical Analysis - 27-04-2016



GBPUSD rose in the intraday levels, succeeding in breaching the important resistance of 1.4537, which represents the ratio 50% of Fibonacci retracement levels for a descending wave in the medium term (from 1.5239 to 1.3835), settling above it for the moment, with the dominance of the upward correctional trend in the short term, combined with ongoing positive pressure from the SMA50, while noting a venting-off of overbought saturation in relative power indicators in an inconsistent way with the pair's upward movement, another positive sign.

Therefore we expect more gains to come for the pair, targeting the resistance of 1.4703, which represents the ratio 61.8% of the same retracement levels mentioned earlier.


Target
Risk


Support
Resistance


Trend Bullish

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