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    Forex News from New Forex: Technical analysis of GBP/USD

    On Wednesday the currency pair demonstrates a decline staying within the support at 1.4343 and resistance at 1.4604. As for short-term prospects of the market development the current technical structure says that moving averages EMA20 and EMA55 slowed down and are close to crossing downwards.

    The MACD-histogram slid into the negative zone and moves further down. The RSI indicates that buyers supporting the bullish market sentiment have eased. However, the oscillator Stochastic entered the zone of oversold and sends signals to buy but it might be fallacious.

     Technical analysis of GBP/USD

    NewForex Analyst

    Luigi Campo

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