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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 - Trading At +30-Year Lows

GBP/USD keeps on declining and is trading at levels unseen in more than 30 years. The pair has broken hourly support lies at 1.3121 (27/06/2016 low) and hourly resistance is given at 1.3534 (29/06/2016 high). Uncertainties are important on the market, we cannot rule out further decline.

The long-term technical pattern is negative and favours a further decline as long as prices remain below the resistance at 1.5340/64 (04/11/2015 low see also the 200-day moving average). Key support at 1.3503 (23/01/2009 low) has been broken and the road is wide open for further decline.

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