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GBPUSD Faces Further Bear Pressure, Eyes 1.5382 Level

Discussion in 'Forex Trading Signals & Forecasts' started by Sandra S., Oct 21, 2015.

  1. Sandra S.

    Sandra S. Forum Member

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    GBPUSD: GBP continues to hold on to its downside bias failing at the 1.5505 level to close lower on a rejection candle on Tuesday. While it remains below the 1.5508 level and its 200 EMA, our bias remains to the downside. Resistance resides at the 1.5508 level. A violation of here will clear the way for a run at the 1.5550 level. Further out, resistance resides at the 1.5600 level followed by the 1.5500 level. Its daily RSI is bullish and pointing higher suggesting further strength.

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