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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: Sliding

GBP/USD has broken its rising channel which confirms a weakening momentum of the rise that started from the low at 1.4832. Monitor the support at 1.5197 (23/04/2013 low). Another support is at 1.5027 (20/03/2013 low). An hourly resistance can be found at 1.5385 (13/05/2013 high).

In the longer-term, the break of the horizontal range defined by the strong support at 1.5235 (13/01/2012 low) and the strong resistance at 1.6302 (30/04/2012 high) calls for a further medium-term decline. Therefore, the recent rise is still viewed as a rebound. A key resistance can be found at 1.5606 (01/05/2013 high, see also 50% retracement).

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