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06.06.2012 06:46 PM
GBP/USD Bullish Outlook For June 6 / 2012 (Daily Strategy)

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The GBP / USD pair has managed to ascend up to the 50 periods moving average around 1.5505, maybe waiting for the G7 managed to give relief to the sovereign debt crisis. Though at the end of the conference call it did not give clear signals that a solution has been found.

On a technical level we expect a correction towards the bullish channel of 4H; the level 1.5380 presents a good opportunity for buy-deals with targets seen at the 1.5700 level.

The momentum indicator is showing bearish signals, so the pair is expected to reverse. 

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