GBP/USD Forecast: Awaits breakout from the 100-pip range

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 20, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The GBP/USD made another attempt to take out 100-DMA on closing basis on Monday but failed to do so and ended at 1.5462 levels. The rise to an intraday high of 1.5496 was largely fuelled by the sell-off in the EUR/GBP pair. However, the sell-off in the cross came to a halt in the NY session, which pushed the cable back to 1.5462 levels. The pair currently trades around 1.5480. Poised for an upside breakout? The pair has been largely restricted to a range of 1.5410-1.5510 in the last few

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