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

    In the trading on Thursday the pound sterling has significantly increased against the US dollar overcoming the immediate resistance at 1.4847 and now testing the next level at 1.4913, a high since 29 December 2015. The price consolidated above the lines of Ichimoku Kinko Hyo which implies a further development of the bullish scenario and the market growth to the next resistance level at 1.4950. Exponential moving averages with periods 3, 20 and 55 days increase, the MACD-histogram stays in the positive zone and rises as well as the RSI.

    However, the market situation is not so clear due to the referendum in the UK today whose results might influence strongly on the financial market.

    NewForex Analyst

    Luigi Campo


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