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Published On: Wed, Nov 26th, 2014

GBP/USD – Technical Analysis (26.11.2014)

The GBP/USD's unsuccessful attempt at the 1.5735 upper boundary of the range signals that the pair is about to head back to 1.5590, en route to 1.5425.

The GBP/USD’s unsuccessful attempt at the 1.5735 upper boundary of the trading range (see chart) signals that the pair is about to head back to 1.5590. A breach there will send the GBP/USD to  the key support level at 1.5425.

This bearish-case scenario will remain valid as far as the pair keeps trading below the crucial 1.5790 resistance.

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