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GBP/TRY: technical analysis on 04.11.2015

On the daily chart, the pair is trading on the lower Ma of Bollinger Bands after it closed two previous candles below the line. The price remains above its EMA130 but below the EMA65. Both moving averages are directed horizontally. However, the long-term trend was not broken yet as the RSI failed its support at 30 mark in October. The RSI and Composite have formed a Bullish divergence with the price suggesting a growth in the pair. 

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