Technical analysis of GBP/USD for January 16, 2017
January 16, 2017 8:38 amVideo
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Overview:
The strong daily support is seen at the 1.1946 level. According to the previous events, we expect the GBP/USD pair to trade between 1.2080 and 1.1950 in coming hours. The price area of 1.2080 remains a significant resistance zone. Thus, the trend is still bearish as long as the level of 1.2080 is not broken. On the contrary, in case a reversal takes place and the GBP/USD pair breaks through the resistance level of 1.2080, then a stop loss should be placed at 1.2150
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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