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17.04.2012 12:06 PM
GBP/USD Intraday Technical Analysis

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The spot rate is currently testing the intermediate support of its medium term bullish channel at 1.5820 suggesting a rebound. However a break through these levels will entail a return to the lower limit of this one - to 1.5710.

Technical indicators do not provide clear signals but until the support is not broken, the assumption of a rebound is most likely. Bollinger bands are much discarded as a result of a strong decline of these days. Stabilization is expected in the short term.

According to previous events, the market indicates a bullish opportunity at the levels of 1.5820 with the 1st objective of 1.5880 and further of 1.5900. A break of 1.5800 will change the plan.

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