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Forex pairs in this Article » GBP/USD
FXstreet.com (New York) - The GBP/USD technical cross recently fell off the 1.5670 level during European trading, edging lower Thursday and trading at session lows.

GBP/USD looks to allay overbought signals above 1.5680

According to the ICN.com Technical Analyst Team, “The GBP/USD upside move extended and benefited from stability above the 1.5605 level, which is viewed as positive and might uphold the upside move. Ultimately, 1.5680 is our intraday interval and stability above it might support this bullish move and negate overbought signals on momentum indicators.”

GBP/USD still fortified by support at 1.5639

Amidst the downtrend, the pair is now settling at 1.5653 in these moments, incurring a loss of -0.15% off its opening. The Mataf.net analyst team points to the next levels of supportive correction at 1.5639, ahead of 1.5602, and eventually 1.5571. Alternatively, a thrust into positive territory will eventually drive the pair towards resistances at 1.5707, then 1.5738, and finally 1.5775.
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