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GBPUSD is facing 1.5962 key support

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 16, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    GBPUSD is facing 1.5962 key support again, a breakdown below this level will indicate that the longer term uptrend from 1.5344 (Dec 28, 2010 low) had completed at 1.6343 already, then the following downward movement could bring price to 1.5700 area. Resistance is at the falling trend line on 4-hour chart, only break above the trend line resistance could trigger another rise towards 1.6343 previous high.


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