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Forex technical analysis: GBPUSD breaks above a cluster of resistance

Discussion in 'Technical Analysis' started by ForexLive, May 12, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Lots of resistance broken The GBPUSD the has moved above a cluster of resistance at the 1.4490-95 area ( 200 hour moving average, 100 bar moving average on the four-hour chart, trendline resistance) and has scooted higher. The pairs is making new week highs and tests the 38.2% retracement at 1.45248. The high from Friday's trade comes in at 1.4542. The 50% comes in at 1.45714.

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