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Market Sentiment At Its Lowest In 10 Months

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GBP/USD - Testing The Resistance at 1.5620

GBP/USD has moved above its resistance at 1.5490 (29/04/2015 high) and is now challenging the resistance at 1.5620 (31/12/2014 high and 200d MA). Hourly support lies can be located at 1.5552 (intraday low and 26/02/2015 old resistance).

In the longer-term, key resistance stands at 1.5552 (26/02/2015 high). However, the break of the strong support at 1.4814 opens the way for further medium-term weakness towards the strong support at 1.4231 (20/05/2010 low).

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