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GBP/USD Outlook: September, 10 2013

GBP/USD Outlook: September, 10 2013

GBP/USDThe Cable has fully retraced to 1.5716/1.5427 in a near-term corrective phase, as a rally from 1.5427 extended gains to 1.5731 so far. Key support at 1.5751, the 17/06 high, and reinforced by weekly 200 DMA, is in near-term focus. A break higher will confirm the 1.4830/12 double-bottom and open way for further extension of bull-phase from 1.4812, 07/07 low. Overall bulls remain in play, with overbought near-term studies suggesting consolidative/corrective phase, ahead of fresh rally. Resistance: 1.5731; 1.5751; 1.5809; 1.5843 Support: 1.5684; 1.5645; 1.5615; 1.5562

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