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Technical Analysis
Technical Outlook, Strategies & Commentaries On The Major Currencies
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[QUOTE="FXTechstrategy Team, post: 79833, member: 14129"] [b]Currency Focus On GBPUSD[/b] GBPUSD: Triggers Correction, Eyes The 1.4950 Level GBPUSD: With the pair triggering a correction, further upside pressure is envisaged. Our minimum upside target stands at the 1.4950 level. On the downside, support lies at the 1.4750 level where a break if seen will aim at the 1.4698 level. A break of here will turn attention to the 1.4650 level. Further down, support lies at the 1.4600 level. Its daily RSI is bullish and pointing higher supporting this view. Conversely, resistance resides at the 1.4892 level with a break aiming at the 1.4950 level. A violation will aim at the 1.5000 level and possibly higher towards the 1.5050 level. On the whole, GBP continues to retain its broader downside bias medium term though recovering higher [IMG]http://www.fxtechstrategy.com/images/GBPUSDDailyMO.png[/IMG] [/QUOTE]
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