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24 Sept 2014 GBP/USD Analysis

Amandeep Sonewane | Sep. 24, 2014
24 Sept 2014 GBP/USD Analysis

GBPUSD, GBP/USD, Pound, Cable, U.K, Britain, Scotland Pound trades above the supporting trendline in blue as it continues its selloff after the Scottish Referendum.

During the European session yesterday Pound fails to trade above 1.64 resistance and remained above 1.632 in consolidation During the European session yesterday Pound fails to trade above 1.64 resistance and remained above 1.632 in consolidation

A retest of support at 1.632 on the 200 hourly average hints at continued bullish strength for the Pound against the U.S dollar as the candlesticks trade above the moving averages on the hourly timeframe A retest of support at 1.632 on the 200 hourly average hints at continued bullish strength for the Pound against the U.S dollar as the candlesticks trade above the moving averages on the hourly timeframe

Great Britain Pound continues to strengthen this week as 1.64 is reattain albeit for a short moment during the European session but failed to trade higher as the U.S session opened. A higher low is formed and moving averages acted as support for the pair as the trendline (in blue, see chart) remains the main trend.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Bullish/ Near Resistance1.62771.6321.6341.641.6441.651.6341.6271.65

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