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Forex4you Technical Analysis 15 Mar 2013

Discussion in 'Forex Daily News & Outlook' started by forex4you, Mar 15, 2013.

  1. forex4you

    forex4you New Member

    Jul 13, 2010
    Likes Received:
    GBP/USD: bounce continues

    The GBP/USD has bounced strongly from Wednesday's lows. It has continued rallying this morning and it may go even higher eventually, reaching resistance from the monthly pivot and the trend-line at 1.5310. Apart from the strength of the rebound there are no indication's yet of a reversal of the short-term down-trend: there are no price patterns and only a minor trend-line has been broken, therefore, it is still quite probable the down-trend could resume, and if we get a sudden move down to below 1.5050 then this could indicate such a resumption and re-test of the 1.4830 lows.


    Analysis by: Joaquin Monfort
    Forex4you analyst

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