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Forex technical analysis: GBPUSD falls back to support area

Discussion in 'Technical Analysis' started by ForexLive, May 17, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Bounces off the first support target The GBPUSD has moved lower in the last few minutes of trading (helped by a rising/recovering EURGBP), but has run into support against a cluster of support in the 1.4422-337 area. The 100 and 200 hour MAs and the 50% of the move higher off the low yesterday all come together in that area. The underside of the broken trend line cuts across at the level as well. KEY support.

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