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Forex pairs in this Article » GBP/USD
FXstreet.com (Córdoba) - The GBP/USD has advanced modestly Wednesday challenging broad based dollar strength, although the pair is faltering at the 1.6435/40 zone once again.

Having climbed more than 50 pips from daily lows, the GBP/USD reached a high of 1.6433 during the European session but stalled a few pips shy of this week's highs and the 10-day SMA at 1.6437/39. At time of writing, the Cable is trading at the 1.6425 area, recording a 0.1% gain Wednesday, following 2 flat days.

GBP/USD technical perspective

"Still in the consolidation pattern above 1.6336 low and the outlook on the senior frames remains bearish, for a slide towards 1.6240 major support", says Stoyan Mihaylov, analyst at DeltaStock.com. "Crucial resistance on the upside is projected at 1.6470".
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