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The Tech Giants Poised For A Breakout

The Tech Giants Poised For A Breakout

Bullish sentiment seems to have…

How Goldman Made $200M In A Day

How Goldman Made $200M In A Day

The thought of a stock…

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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GBP/USD Stalled at 200-day Moving Average

GBP/USD has rejected after the breach of the 1.5883 swing high stalled close to the the 200 day moving average at 1.5935.

Still, while 1.5730/1.5789 holds the risk is seen for an attack on psychological 1.6000 then overhead resistance at 1.6096/1.6167 as the 1.5235 swing extends.

Loss of 1.5730 would suggest completion of a top pattern, calling for a deeper correction of the 1.5235 advance back towards former resistance at 1.5670 and possibly 1.5533 before a base can form for fresh gains.

Settling below 1.5500 would suggest that the 1.5235 rally was a completed bear market bounce, shifting odds in favour of an attack on the 1.5235 swing low.

Daily Technical Report

 

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