Forex Trading Library

GBPUSD 2016-10-03

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British Pound managed to add more drop pressure to fell below 1.2915 after UK Prime Minister (Theresa May) pledged to pull out UK from European Union next March.

market now showing ability for Intraday trading zone between support (1.2800-50) and resistance (1.2915-30)

while below 1.2795 market may enter new downtrend wave that may lead for farther drop toward 1.2500 zone

above 1.3020-30 zone market will restore the uptrend wave

  Support Resistence
Level 1 1.2800-50 1.2930-50
Level 2 1.2600 1.3020-30
Level 3 1.2500 1.3105
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