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GBPUSD drops down below the up trend line

Discussion in 'Major Currency Pairs' started by ForexCycle.com, Sep 28, 2008.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    GBPUSD drops down below the up trend line from 1.7445 to 1.7916. Deeper decline is still possible to 1.8200 or even lower to 1.8055. Key support is now located at 1.7916, as long as this level holds, we’d expect up trend to resume, and further rise towards 1.9100 zone could be seen after consolidation. However, a break below 1.7916 level will indicate that the up trend line 1.7445 (Sep 11 low) has completed.


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