Monday, April 20, 2015

GBP/USD Daily Outlook

With 1.4811 minor support intact, further rise is mildly in favor in GBP/USD. The correction from 1.4565 might extend higher and in that case, focus will be on 1.5551 cluster resistance, 38.2% retracement of 1.7190 to 1.4565 at 1.5568. Meanwhile, below 1.4811 minor support will turn bias back to the downside for 1.4565 low instead.

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