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GBP/USD Consolidates Below Monthly R1

Discussion in 'Technical Analysis' started by Kaitlin, Feb 5, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    GBP/USD is currently retreating from the monthly R1, but the currency pair retains potential to go higher from here. Above 1.4680 dollars the Pound should target the 55-day SMA at 1.4740. If the latter resistance is breached as well, the rally will likely travel up to 1.50, the level where[​IMG]

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