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Beirut 12:52 pm Paris 12:52 pm New York 06:52 am
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GBP/USD January 08, 2016

The general negativity continues on the chart due to trading below 161.8% Fibonacci at 1.4680 and any trading below this level will be a negative sign.

SMA20 breached 1.4680 and ADX remains negative despite RSI moving near 30.00 zones without showing any signs of reversal.

Therefore, we remain bearish on GBPUSD.

Support: 1.4600 – 1.4550 – 1.4500

Resistance: 1.4680 – 1.4760  – 1.4800

 

Direction: Bearish