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GBPUSD break above 1.6480 resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 20, 2009.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    GBPUSD break above 1.6480 resistance. Further rally is now in favor and next target is to test 1.6743 previous high resistance, a break above this level will suggest that the uptrend from 1.3654 has resumed, then further rally could be seen to 1.7000 zone. Near term support is at 1.6400, and key support is at 1.6265, a break down below 1.6265 level will indicate that the rise from 1.5984 has completed, and then further fall is expected to 1.6050-1.6100 area.


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