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GBP/USD Forecast: Bearish break below 1.4865 likely

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 22, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    Sterling’s failed attempt to sustain above 1.49 followed a bearish close below 1.4895 (Dec 2 low) on Monday has opened doors for a drop below 1.4865 (Dec 17 low) and slide to 1.4739 (Apr 1 low). However, the 4-hour RSI’s turn higher from the oversold territory could see the pair make an attempt to take out the hourly 50-MA at 1.4901. A failure to do so would open doors for a break below 1.4865 and a drop to 1.4739 levels. The US GDP could turn out to be a non-event unless the figure is revised

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