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02.05.2018 12:16 AM
Daily analysis of GBP/USD for May 02, 2018

GBP/USD managed to post fresh lows on Tuesday as the broad-based GBP weakness remains alive in the short term. The pair is now testing the support level of 1.3609, where a breakout should open the doors to test the 1.3480 level. To the upside, the nearest resistances align at 1.3733 and 1.3838, which should help to cap further gains.

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H1 chart's resistance levels: 1.3733 / 1.3838

H1 chart's support levels: 1.3609 / 1.3480

Trading recommendations for today: Based on the H1 chart, sell (short) orders only if the GBP/USD pair breaks a bullish candlestick; the resistance level is at 1.3609, take profit is at 1.3480 and stop loss is at 1.3743.
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