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Forex technical analysis: GBPUSD stalls at 50% and trend line

Discussion in 'Technical Analysis' started by ForexLive, Nov 13, 2015.

  1. ForexLive

    ForexLive Forum Member

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    Broke above 200 hour MA on data but back down testing the level The GBPUSD pushed higher after the weaker than expected data today (retail sales and PPI), but the pair ran into the 50% retracement and topside trend line and the buying stopped. The pair is back down testing the 200 hour MA (green line on the chart below at the 1.5223 level). That level was the resistance for most of the trading day (very narrow range).

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