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11.04.2012 05:24 PM
GBP/USD Bullish Outlook for April 11, 2012 (Daily Strategy)

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The British Pound was trading upwards this Wednesday, moving away from the danger zone and trying to reach the 1.60 level.

The test level 1.5913 / W_PP) is the key level for the growth of the British pound. If the day closes below this level, the price will likely reach the 1.5783 level, which is equal to 61.8% of Fibonacci retracement, on the other hand, if the market  closes above this level buy short-term objective 1.6023 is recommended. 

The MACD indicator is showing bullish signals.

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