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Gbp/Usd Technical Analysis for 24th November 2008

The daily chart is showing that the pair does not have a distinct direction, as the chart appears to be quite horizontal for the past 10 days. The Bollinger Bands are widened, and the 4-hour Slow Stochastic also provides no clear indication. On the hourlies, the pair has been range trading with high volatility for a while now. Waiting for a clearer sign before entering the market might be the smart move today.

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