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GBPUSD Weekly Analysis - May 17, 2015

Long Term Forex Analysis | by ForexCycle.com | Sunday, 17 May 2015 06:55 UTC
GBPUSD broke above 1.5551 resistance, indicating that the downward movement from 1.7190 (Jul 15, 2014 high) had completed at 1.4565 already. The pair is now in uptrend, further rise could be expected after a minor consolidation, and next target would be at 1.6500 area. Support is at 1.5400, only break below this level could trigger another fall towards 1.4000.

gbpusd chart

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