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GBPUSD Technical Analysis

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Daily technical analysis based trade tips and ideas for forex GBPUSD. Our report outlines clear and precise trade entry levels with profit targets and stop loss levels across a broad range of prices for the intraday. To gain an edge in the markets, successful professional traders need a daily trading plan and must be aware of important support and resistance levels. We ensure you are fully prepared to maximise profitable trading opportunities throughout each day, minimising your risk, maximising your profits and taking away the element of gambling.

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GBPUSD - spot
GBPUSD topped 9 pips from first resistance at 1.2530/40 & we wrote:..first support at 1.2485/80 but look for better support at 1.2435/30.

We bottomed 1 pip above here.
Today's Analysis
13 February 2017 Updated at 00:00am GMT
GBPUSD failure to beat 1.2485/80 retests support at 1.2435/30. Further losses however risk a retest of support at 1.2350/40. Again, longs need stops below 1.2320. A break lower targets 1.2260/55 for a short term buying opportunity, but longs need stops below 1.2230.

Above 1.2485/80 allows a recovery to resistance at 1.2530/40 then minor resistance at 1.2570/80, also last week's high. On a break higher this week look for 1.2600 then 1.2630 before the January high at 1.2670/73. Further gains test the February high so far at 1.2703/07.
Technical Analysis GBPUSD