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GBP/USD: Technical analysis

GBP/USD. GBP/USD moved higher in October but ran into resistance in the 1.30 area. The further obstacles on the upside are at 1.3080 (100-week MA), 1.3135 (200-week MA, and 1.3170 (50% Fibo retracement of the April-September decline). Support lies in the 1.2730/00 area (50-week MA, previous resistance line). Only a return below this are will revive bears. The next important support is around 1.2500.

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