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Forex: GBP/USD testing the 1.5000 support

The GBP/USD pounding has not abated during European trading, falling below the 1.5000 level (1.4985 intraday minimum), albeit briefly during the American session Friday. At the time of writing, the pair is testing the 1.5000 level, having fallen over -1.03% off its opening.

According to the ICN.com Technical Analyst Team, “The GBP/USD dropped sharply after the repetitive failure to hold above 1.5190 levels; trading below the aforementioned might extend the bearish move toward 1.4965 levels.”

ICN.com analysts point to supports at 1.5000, followed by 1.4980, and ultimately 1.4965. On the ascension, resistances will trigger if the exchange breaches the 1.5080 mark, then 1.5100 level, and finally 1.5130.

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