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GBPUSD broke above 1.6139 key resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 13, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    GBPUSD broke above 1.6139 key resistance, suggesting that the downtrend from 1.6546 had completed at 1.5781 already. Further rise could be seen in a couple of days, and next target would be at 1.6300 area. Support is at 1.6080, only break below this level will indicate that consolidation of uptrend is underway.

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