17 Mar 2014; GBPUSD
Based on indicator - a long in GBP. Daily CCI pointed to an oversold position and it is a good time to buy.
Not looking at an news which can disrupt the price, the purchase for long will be based on support lines - 1.6615 - 1.660.
Any pick in this range and wait for the indicator CCI to reverse.
There are news - with the world watching the outcome of Ukraine situation. That stops the "good" news in Europe recovery to stall.
Resistance is at 1.6650.
Looking at the daily EMA21 and EMA55 - the price tapered. As such, but not expecting it to happen today - a breakout below 1.6580 and a breakout above 1.6670.
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