GBP/USD - daily technical Forecast

By IBTimes Staff Reporter | April 29 2010 2:16 AM

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GBP/USD closed lower on Wednesday and the mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI remain neutral to bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off March's low, the reaction high crossing is the next upside target. Closes below the 20-day moving average crossing would confirm that a short-term top has been posted.

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