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GBPUSD pulled back from 1.6400

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 23, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    After breaking above 1.6343 resistance, GBPUSD pulled back from 1.6400. However, the fall from 1.6400 is treated as consolidation of uptrend, as long as 1.6185 support holds, another rise towards 1.6500 is still possible after consolidation. However, below 1.6185 will indicate that lengthier consolidation of uptrend is underway, then deeper decline to 1.6000 area could be seen.


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