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May 17

TECHNICAL ANALYSIS BY NSFX 17.05.2015

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The slope of the trendline generated last month is fighting against gravity and if the pair should make a retracement to its 200SMA would be a good opportunity to test the trend.  Above 1.5815 GbpUsd might test the key psychological level 1.6 and a breakout above this level can lift the rate to 1.6250. If the pair will trade below its demand line it should test the 55EMA, and below this average it might be possible to see another bearish wave.

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