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GBPUSD builds bullish wave – Analysis - 03-08-2016
The GBPUSD pair breached 1.3290 level clearly and settled above it, which opens the way to target the main bearish channel's resistance that appears on the above chart, located at 1.3670.
The EMA50 provides the positive support to the price, which encourages us to suggest the bullish trend in the upcoming sessions, noting that breaching 1.3480 level will provide strong positive motive that supports the chances of breaching the above mentioned resistance followed by extending the positive targets to reach 1.3840, taking into consideration that the continuation of the expected bullish trend depends on the stability above 1.3160.
Expected trading range for today is between 1.3250 support and 1.3480 resistance.
Expected trend for today: Bullish
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EURUSD confirms the breach – Analysis - 03-08-2016
The EURUSD pair succeeded to confirm breaching 1.1196 level after closing the daily candlestick above it, to get positive motive that reinforce the bullish trend scenario on the intraday and short term basis, waiting to continue rising to target 1.1356 level in the upcoming period.
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