Wednesday, August 27, 2014

GBP/USD Daily Outlook

GBP/USD's consolidations from 1.6534 continues and intraday bias stays neutral. Further rise could be seen. But upside is expected to be limited by 1.6737 resistance and bring fall resumption. The decline from 1.7190 medium term top is expected to extend lower. Below 1.6534 will target 1.6251 cluster support (38.2% retracement of 1.4813 to 1.7190 at 1.6282).



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