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GBPUSD: Outlook for pair has turned higher after printing a rejection candle the past week. A follow through higher is now envisaged in the new week.

On the upside, resistance resides at the 1.5000 level with a break aiming at the 1.5050 level. A violation will aim at the 1.5100 level and possibly higher towards the 1.5150 level.

Conversely, support lies at the 1.4800 level where a break if seen will aim at the 1.4750 level. A break of here will turn attention to the 1.4700 level. Further down, support lies at the 1.4722 level. On the whole, GBP continues to retain its recovery bias though looking to pullback.

More:  GBP: April Is The ‘Cruelest’ Month, Then A Turn – Goldman Sachs

GBPUSD technical analysis April 7 2015

 

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