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Technical Analysis: GBP/USD

The pair did not manage to hold above the 50-Day SMA. Now we could see a setback to the 100-Day SMA by 1.5900, with a break below...

The pair did not manage to hold above the 50-Day SMA. Now we could see a setback to the 100-Day SMA by 1.5900, with a break below to confirm further declines towards the 1.5750 support, right where the 200-Day SMA resides. However, a break back above the 50-Day SMA would allow reaching the 1.6400 high.

Edward Smith, technical analyst of company Admiral Markets.

At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing centre «Admiral Markets», the reference to a company site is obligatory.

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