NewForex - Analytics

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

    In the European trading session we observe the continuation of the uptrend in the market. The price remains within the level of support at 1.4566 and resistance at 1.4852.

    Exponential moving averages EMA20 and EMA55 crossed upwards and rise, the RSI demonstrates accumulating power of the current bullish trend. However, the oscillator Stochastic stays in the zone of overbought since the end of the last week which might signal the coming change of the market sentiment.

    NewForex Analyst

    Michael Butnitsky


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