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    GBP/TRY: technical analysis on 06.11.2015

    On the daily chart, the pair is trading just above the lower MA of Bollinger Bands that coincides with the EMA130 thus creating a strong support level. The RSI turned up towards its MA’s and formed small divergence with the price. The Composite tested its longer MA and also turned up. The indicator formed a more significant divergence with the price, however. Both indicators suggest a weakness of the market. 

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