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29.03.2012 11:57 AM
GBP/USD Intraday Technical Analysis

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Technical summary:

The decline from 149.78 is in no way as pretty as we would have liked, but we see no reason to change our view of a continuation lower to 144.77 and likely even 143.39 before a bottom could be in place. In the short term, we would like minor resistance at 147.03 to protect the upside for the next decline towards 144.77, but only a break above 148.23 will invalidate the bearish view and call for a rally to new highs.

Trading recommendation:

We will stay neutral for now, but look for possible buying opportunities.

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