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28.12.2017 08:10 PM
Daily analysis of GBP/USD for December 29, 2017

The pair is facing strong resistance around 1.3444 and looking forward to reaching new highs. There is also a higher high pattern formation across the board which should deliver more bullish moves. If GBP/USD manages to break above that resistance, then the next target should be the 1.3516 level. MACD indicator is entering the negative territory, calling for corrective moves.

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H1 chart's resistance levels: 1.3444 / 1.3516

H1 chart's support levels: 1.3303 / 1.3234

Trading recommendations for today: Based on the H1 chart, buy (long) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3444, take profit is at 1.3516 and stop loss is at 1.3372.

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