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Technical Analysis of GBPUSD

Technical Analysis of GBPUSD

The pair has fell to strong support area near a cluster of support defined by the 100 bar MA on the 4-hour chart, the 200 hour MA and the 100 hour MA.  The three moving averages come in at 1.3161, 1.3165 and 1.3171 respectively.   The low for the day bottomed at 1.3162. We suggest a long position at 1.3195 with stop loss at 1.3170 and take profit order at 1.3272.

 

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