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MIG Bank

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 - Will it be Able to Make a Higher High?

GBP/USD has bounced sharply near the key support at 1.5855. However, prices have thus far failed to invalidate their succession of lower highs. As a result, monitor the resistance at 1.6227. Hourly supports lie at 1.6030 (17/10/2014 low) and 1.5942 (16/10/2014 low). Another resistance stands at 1.6287.

In the longer term, the collapse in prices after having reached 4-year highs has created a strong resistance at 1.7192, which is unlikely to be broken in the coming months. Despite the recent short-term bearish momentum, we favour a temporary rebound near the support at 1.5855 (12/11/2013 low). A key resistance lies at 1.6525.

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