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GBP/USD weekly highs towards 1.62 handle- FXStreet

FXStreet (Barcelona) - The GBP/USD trades at its weekly highs and 38.2% retracement of the post Scottish referendum slide at 1.6170.

Key Quotes:

“Dollar selloffs extends beyond technical readings, with the 1 hour chart showing momentum still flat around their midlines”.

“In the 4 hours chart the overall strength has forced 20 SMA higher…with some consolidation expected around current levels, while a break above should lead to a quick extension towards 1.6200/20 price zone”.

“Support levels: 1.6130, 1.6090 and 1.6050”.

Resistance levels: 1.6170, 1.6210 and 1.6250”.

EUR/USD: Diip buying activity expected from 1.2667 - 2ndSkies

Chris Capre, Founder at 2ndSKies, notes that after the EUR/USD short squeeze, the range resistance becomes support at 1.2667 on pullbacks, where bulls are likely to wait to reset longs.
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