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

    On Wednesday trades the currency pair demonstrates a slight decline standing within the support at 1.4551 and resistance at 1.4718.

    EMA20 and EMA55 keep rising today, the MACD-histogram has slowed down but remains in the positive zone, the RSI indicates that bulls have weakened a bit and the market shows an uptrend.

    The oscillator Stochastic left the zone of overbought which might be an anticipated signal to a new rise according to the current technical structure, especially if we take into account that the market consolidated above the lines of Ichimoku Kinko Hyo.

    NewForex Analyst

    Michael Butnitsky

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