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GBP/USD update (18th May 2017, 11:00)

GBP/USD RSI continues to fall.

GBP/USD RSI continues to fall.

GBP/USD has pushed back to the top end of its recent range, around $1.2970, but with no sign of further momentum, plus signs of deterioration on the daily chart as the relative strength index (RSI) continues to fall, it may be that a drop back towards $1.2850 and the bottom end of the range is in the offing.

Below $1.2850 the price could find support at $1.2775, which would also put it close to the rising trendline that has been in place since early March.


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GBP/USD update (18th May 2017, 11:00)

GBP/USD RSI continues to fall.

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