GBP/USD

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Type:	Forex
Ticker:	GBPUSD
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GBP/USD - GBP/USD Failed to Climb Above the Narrow Range 1.3040 - 1.3320 - 11/24/2017 (GMT)

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GBP/USD Chart

The British pound is also holding in a consolidation area versus the U.S. dollar with resistance strong obstacle the 1.3320 and support handle the 1.3040 support level. During yesterday’s trading period, the price hit the upper boundary but failed to penetrate the range to the upside. However, the price exposed to an almost two-month high at 1.3336 but it ended the day in red.A climb above 1.3320 will open the door for the 1.3615 handle. On the other hand, a continuation of the bearish movement will drive the cable towards the 1.3040 level. The MACD oscillator lies with strong momentum above the zero line and the RSI indicator holds within the positive path despite that is pointing south.

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