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

    In the trading on Friday the pair shows neutral trading dynamics staying within the immediate support at 1.4414 and resistance at 1.4484. Exponential moving averages with periods 20 and 55 days crossed downwards and keep sliding but have slightly slowed down.

    The MACD-histogram decreases staying in the negative zone. Sellers still preserve their power and currently buyers have little chance to reverse this trend. However, the oscillator Stochastic and the RSI say that the pair is oversold which might boost a bullish market potential.

    Technical analysis of GBP/USD

    NewForex Analyst

    Michael Butnitsky


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