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30 Sept 2014 GBP/USD Analysis

30 Sept 2014 GBP/USD Analysis

GBPUSD, GBP/USD, Pound, Cable, U.K, Britain Pound is support off 1.62 against the U.S dollar

GBPUSD, GBP/USD, Pound, Cable, U.K, Britain GBP/USD failed to break higher than the 104 moving average on the H4 charts and just below 1.627, the high of 15 Sept.

GBPUSD, GBP/USD, Pound, Cable, U.K, Britain The market’s move higher was rejected by the 55 hourly average in blue as cable moves lower.

Pending sales of existing homes in the U.S fell in August as strict lending policies limit demand. The U.S dollar moved slightly lower against the Pound Sterling as 1.62 support proved a turning point for the pair. Limited gains ahead of the U.K session today as 1.6277 was rejected yesterday, while current price 1.624 could be the support to hold for the pair to move higher (as seen on 17 Sept price action on the same timeframe)

Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Slight Bearish 1.61 1.6191.6241.6271.6341.64

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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