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GBPUSD drops sharply from 1.5575

Discussion in 'Technical Analysis' started by ForexCycle.com, Feb 23, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    GBPUSD drops sharply from 1.5575 and reaches as low as 1.5393 level. Now the fall could possibly be resumption of downtrend from 1.6456. Deeper decline is expected to test 1.5350 support later today, a breakdown below this level will confirm that the downward movement has resumed, then next target would be at 1.5250 area.


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