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GBP/USD remains supported around 1.5380 – BBH

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 19, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    FXStreet (Edinburgh) - The research team at BBH now expects pullbacks in the pair to remain contained in the area of 1.5380.

    Key Quotes

    Sterling reached a high near $1.5530 on Thursday before finishing the week near $1.5440”.

    “It stalled near the downtrend line drawn from the August 25 high (~$1.5820), and the September 18 high (~$1.5660)”.

    “It was marred last Thursday but closed well below it. Indeed, it closed on its session lows”.

    “Old resistance near $1.5380 should now offer support, and may extend to $1.5350. A break of the $1.5280-$1.5300 area would confirm the third consecutive lower high since the year's high was recorded in June near $1.5900”.
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