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Technical Analysis Report - GBP/USD

15/08/2016 // 05:21:17 am

General outline:

Friday saw the Sterling weighed in by the quantitative easing program, relaunched by BoE.

Present scenario:

Despite the weak dollar, due to poor U.S. statistics, the pound remained under pressure. The sterling strived to rise but the 50-EMA limited its growth. The GBP/USD fell back to the support 1.2900. The current resistance is observed at 1.3100, the support stands in at 1.2900.

Sell signal is generated by both he indicators (MACD and RSI).

The 50, 100 and 200 Day EMAs are moving earthwards

Trading commendation:
The mood of the market is bearish, and the pair is looking for a drop towards 1.2900 support level.
 

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