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GBPUSD moved sideways in a trading range

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 13, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    GBPUSD moved sideways in a trading range between 1.7084 and 1.7179. As long as 1.7084 support holds, the price action in the range could be treated as consolidation of the uptrend from 1.6692, one more rise to 1.7300 is still possible after consolidation. On the downside, a breakdown below 1.7084 support will indicate that the uptrend had completed at 1.7179 already, then the following downward movement could bring price back to 1.6850 area.


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