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Instrument in Focus: GBPUSD

Discussion in 'Current Market Sentiments' started by fx-recommends, Dec 22, 2015.

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  1. fx-recommends

    fx-recommends Content Contributor

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    GBPUSD Daily 22-12-2015 05-30-04 ص.jpg After finding support at 1.4863, GBPUSD could rebound to form a new lower high at 1.4948 to return for trading around 1.488 currently, after inability to go above 1.50 psychological level.

    The cable came under increasing down side momentum, after forming another lower high at 1.5238 below last Nov. 19 high at 1.5333 but this down side momentum has abated in the recent few days by holding above 1.4863.

    GBPUSD daily Stochastic Oscillator (5, 3, 3) which is sensitive to the volatility is still having its main line in the oversold area below 20 reading 4.568 and also its signal line which is reading now 8.885.

    Important levels: MA50 @ 1.5190, MA100 @ 1.5299 and MA200 @ 1.5323

    S&R:

    S1: 1.4863

    S2: 1.4698

    S3: 1.4564

    R1: 1.4948

    R2: 1.5007

    R3: 1.5095


    Walid Salah El din
    Senior Market Analyst
    Skype : chief.economist.walid
    walid.s@trade-24.com
    Tel: UK. +44 1138590277
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