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25 Sept 2014 GBP/USD Analysis

Amandeep Sonewane | Sep. 25, 2014
25 Sept 2014 GBP/USD Analysis

GBPUSD, GBP/USD, Pound, Cable, U.K, Britain, Pound Sterling fell against the U.S dollar and closed slightly below support of 1.634

GBPUSD, GBP/USD, Pound, Cable, U.K, Britain, Scotland We see the candlesticks contesting the bottom supporting trendline, with a clear break below of 104 average in orange a sign of bearish continuation

GBPUSD, GBP/USD, Pound, Cable, U.K, Britain, Scotland A repeat of the retest on the 200 hourly moving average as resistance will see GBP/USD lose more ground and towards 1.6277

BOE's Mark Carney is to speak later today at the Institute and Faculty of Actuaries General Insurance Conference in Wales, right after the U.S unemployment claims. The dollar index continues its rise against the basket of 11 currencies it is compared to as new home sales rose highest in 6 years resulting in extended gains for the U.S dollar. On the H4 and H1 carts the uptrend channel looks set to break as the moving averages dip lower.

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
Bearish1.62771.6281.631.6341.6371.6411.6371.6431.627

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