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5 Big Drivers of Higher Inflation Rates Ahead

5 Big Drivers of Higher Inflation Rates Ahead

Investors got lulled into a…

Why The Next Oil Boom Will Be Fueled By Blockchain

Why The Next Oil Boom Will Be Fueled By Blockchain

As blockchain tech works its…

Irredeemable Currency De-tooths Savers

Irredeemable Currency De-tooths Savers

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GBP/USD - Moving Sharply Higher

GBP/USD - Moving Sharply Higher

GBP/USD is moving sharply higher from key support at 1.2334, suggesting a deeper shortterm base formation. Resistance stands at 1.2605 (18/04/2017 reaction high) then 1.2953. An hourly support can be found at 1.2581 (12/04/2017 base) then 1.2405 (11/04/2017 low).

The long-term technical pattern is even more negative since the Brexit vote has paved the way for further decline. Long-term support given at 1.0520 (01/03/85) represents a decent target. Long-term resistance is given at 1.5018 (24/06/2015) and would indicate a long-term reversal in the negative trend. Yet, it is very unlikely at the moment.

Daily Technical Report

 

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