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Technical Analysis
28th February 2019 - GBPUSD Tech Analysis
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[QUOTE="Walid Salah Eldin, post: 160535, member: 36836"] [ATTACH=full]13757[/ATTACH] After forming a higher low at 1.2968, GBPUSD extended its rising to1.3349, before retreating for trading close to 1.33 unable to drop down its previous formed resistance on Jul. 9 at 1.3362. GBPUSD which gained higher momentum this week is now in its eighth day of consecutive being above its daily Parabolic SAR (step 0.02, maximum 0.2) which is reading today 1.2918. GBPUSD is still also underpinned by being well above its daily SMA50, its daily SMA100 and also its daily SMA200 became below the pair, after bouncing up from 1.2968 by the end of last week to form a higher low above its formed bottom on Feb. 14 at 1.2772. GBPUSD daily RSI-14 is now referring to existence inside the overbought area above 70 reading 70.639. GBPUSD daily Stochastic Oscillator (5, 3, 3) which is more sensitive to the volatility is still having its main line inside its overbought territory above 80 at 88.978 leading to the upside its signal line which is lower inside this same region reading 87.442, After positive crossover on forming 1.2968 bottom. Important levels: Daily SMA50 @ 1.2895, Daily SMA100 @ 1.2932 and Daily SMA200 @ 1.3259 Experienced S&R: S1: 1.2968 S2: 1.2772 S3: 1.2668 R1: 1.3362 R2: 1.3472 R3: 1.3617 Kind Regards Global Market Strategist of FX-Recommends Walid Salah El Din [/QUOTE]
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