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  4. Technical Analysis: GBP/USD 2012.05.24

Technical Analysis: GBP/USD 2012.05.24

May 24, 2012 12:52

  The pair almost reached the 1.5600 support. Breaking below this level would confirm declines ahead of the 1.5230 low. The nearest resistance is eyed by the 1.5810-1.5830 area, right where the 200-Day SMA and the 100-Day SMA reside. Only a clear break above this area would confirm gains towards the 50-Day SMA by 1.5980 and the 1.6300 resistance.    

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.

 

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