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The pair has entered overboughtness area again

22 May 2015, GBP/USD

The pair has entered overboughtness area again

4 hours’ chart of GBPUSD. The pair has entered overboughtness area again which performs as resistance. That is confirmed by a rather notable bounce from this area. Therefore, a probability of renewal of descending movement is still big. The first target is still an intermediate level of support (6/8). This plan would be cancelled by update of current High.

Nikolay Krishtopov
FreshForex Analyst
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