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Technical Analysis: GBP/USD 2012.04.20

April 20, 2012 09:53

  The pair continues the uptrend towards the key 1.6165 resistances. Breaking above 1.6165 would open a fresh upside extension ahead of the 1.6750 high. The nearest support is still eyed by 1.5840, right where both the 50-Day SMA and the 200-Day SMA reside. Only a clear break below this level would negate the constructive outlook and confirm declines towards the 100-Day SMA by 1.5720 or the 1.5600 support.     Edward Smith, technical analyst of company Admiral Markets.   At any use of the analytical material taken from a site of company Admiral Markets, and the secondary publication on any other resources, the rights to intellectual property for a dealing centre «Admiral Markets», the reference to a company site is obligatory.


Admiral Markets Group consists of the following firms:
Admiral Markets Pty Ltd
Regulated by the Australian Securities and Investments Commission (ASIC)
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Admiral Markets Cyprus Ltd
Regulated by the Cyprus Securities and Exchange Commission (CySEC)
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Admiral Markets UK Ltd
Regulated by the Financial Conduct Authority (FCA)
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