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1 Oct 2014 GBP/USD Analysis

1 Oct 2014 GBP/USD Analysis

dollar, Pound, Sterling, Pound Sterling, Sterling Pound, GBP, GBP/USD, GBP/USD Forecast, GBPUSD analysis, GBPUSD outlook, GBPUSD technical analysis, Bank of England, BOE, Mark Carney, U.S Dollar, USD, GBP/USD outlook, GBPUSD forecast 5 consecutive days of losses for the Pound against the U.S dollar as 1.62 comes into view from the previous high at 1.64

dollar, Pound, Sterling, Pound Sterling, Sterling Pound, GBP, GBP/USD, GBP/USD Forecast, GBPUSD analysis, GBPUSD outlook, GBPUSD technical analysis, Bank of England, BOE, Mark Carney, U.S Dollar, USD, GBP/USD outlook, GBPUSD forecast The lower highs have gained strength as the 1.6277 resistance yesterday held strong, with Stochastics showing no signs of oversold at the moment.

dollar, Pound, Sterling, Pound Sterling, Sterling Pound, GBP, GBP/USD, GBP/USD Forecast, GBPUSD analysis, GBPUSD outlook, GBPUSD technical analysis, Bank of England, BOE, Mark Carney, U.S Dollar, USD, GBP/USD outlook, GBPUSD forecast The downtrend line in red is now respected as resistance, with possible downward extensions towards 1.614

Technical indicators show a lack of volatility and signs of oversold as the Pound falls below supports one after the other after attaining the high of 1.64 last week. U.S dollar continues its rally against the major currencies in the world and albeit a blip in consumer confidence due to lack of optimism in the jobs market, the Pound was unable to sustain its rebound earlier in the day.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Bearish1.61.6141.6181.621.631.64

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

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