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GBPPLN: Above 6.0000, Highest Since 2006

Published 11/18/2015, 12:21 PM
Updated 03/09/2019, 08:30 AM

GBPPLN - above 6.0000, highest since 2006

In Poland today there was important political event. Prime Minister of the new government Beata Szydło gave expose. Very nervously was at PLN where high were established before that event. Finally, nothing alarming has been said. For example: Reduction of the CIT tax (corporate) to 15% and support for small and medium businesses, nothing about credits in CHF and "development, development, development".

After expose there was a slight decline on GBPPLN but in the longer term it moves upward. The correction that took place in August and September was fibo 61.8% of the previous 3-month upward movement. Uptrend can be continued and the next important resistance is much higher at level 6.3500. Alternatively, if current break above 6.0000 will be a fakey (false breakout) and price will return below that level there will be a plenty of supports to break. Nearby: 5.9750, 5.9100, 5.8700.

Time-frame D1


Time-frame Monthly

Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.

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