GBPUSD: Recovers Higher But Within Short Term Range

1 September 2016, 14:11
FXTechstrategy.com
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GBPUSD: With the pair strengthening on Thursday, more strength is expected. However, that move remains within its established range. On the downside, support  lies at the 1.3200 level where a break will turn  attention to the 1.3150 level. Further down, support  lies at the 1.3100 level. Below here will set the stage  for more weakness towards the 1.3050 level. Conversely, resistance stands at the 1.3300 levels with  a turn above here allowing more strength to build up  towards the 1.3350 level. Further out, resistance  resides at the 1.3400 level followed by the 1.3450  level. On the whole, GBPUSD threatens further downside pressure.

 

 

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