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GBPUSD continues its upward movement from 1.5124

Discussion in 'Technical Analysis' started by ForexCycle.com, Aug 1, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    GBPUSD continues its upward movement from 1.5124 and the rise extends to as high as 1.5726 level. Key support is at 1.5551, as long as this level holds, further rise to 1.5800-1.5900 to reach next cycle top on 4-hour chart is still possible. On the other side, a breakdown below 1.5551 support will indicate that a cycle top has been formed, then pullback to 1.5400-1.5500 area could be seen.

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