GU Daily Technical Analysis Oct, 9, 2017

Analysis Explanation

GBPUSD has fake out the breakup of the rising wedge and rejected further down
while a continued within the rising wedge may be expected a bounce back to 1.328
Has risen strongly since the positive signal from a inverse head and shoulders formation at the break through the resistance at 1.25.
The currency is at the support at points 1.32, which may give a positive reaction.
The currency is overall assessed as technically positive for the medium long term.




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