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GBPUSD is facing 1.5683 resistance

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 11, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    GBPUSD is facing 1.5683 resistance, a break above this level will signal resumption of the uptrend from 1.5008, then next target would be at 1.5700 area. Initial support is at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend will continue. On the other side, a clear break below the trend line support will suggest that lengthier sideways consolidation is underway, then the trading range would be between 1.5488 and 1.5705.


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