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GBP/USD Targets 1.5450/55

Published 09/16/2015, 01:14 AM
Updated 07/09/2023, 06:31 AM

GBP/USD Recap Chart

The important GBP/USD 200-day moving average support at 1.5350/45 is the key to direction. A break below 1.5325 is a sell signal and targets minor support at 1.5288/85 for some profit taking on shorts. However, if we continue lower look for 1.5265/60, then support at 1.5245, which could hold the downside today as we become oversold short term.

Above 1.5360 allows a recovery and opens the door to strong resistance at 1.5400/05. A good chance this will hold a rally, but shorts need stops at 1.5425. A break higher targets 1.5450/55. Further gains could reach as far as 1.5495/1.5500 for an excellent selling opportunity.

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