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Forex: GBP/USD trading slightly off highs at 1.5232/37

FXstreet.com (Barcelona) - The GBP/USD is trading slightly off its session highs Monday (1.5244), having operated in positive territory for the majority of the day. During US trading, the pair is trading at 1.5232/37, up +0.26% during muted trading.

Briefing the technicals, the GBP/USD is slated to face calculated resistance at 1.5310, ahead of 1.5385, and finally 1.5415. Conversely, any attempt or subsequent movement lower will encounter means of support at 1.5160, then 1.5130 and finally 1.5385, notes the ICN.com technical analyst team.

“The GBP/USD downside move settled for 38.2% correction at 1.5095 which resides near 1.5085 support before it rebounded to the upside to trade again above the neckline of the suggested formation –close to an inverted Head & Shoulders pattern.” notes the ICN.com analyst team.

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