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GBP/USD Must Hold Above 1.4170 For Chance Of Recovery

Published 04/06/2016, 06:02 AM
Updated 07/09/2023, 06:31 AM
GBP/USD
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GBP/USD Chart

GBP/USD making a break below important trend line support at 1.4165/55 for a sell signal to target 1.4100 then 4-week lows at 1.4055/50. Buying here looks risky and if we continue lower look for 1.4030 then only minor support at 1.3985/80.

The pair must hold above 1.4170/75 for any chance of a recovery today to target 1.4187/90, then quite strong resistance at 1.4255/60. A good chance of a high for the day, but shorts need stops above 1.4290.

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