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GBPUSD rebounded to 1.8668 level

Discussion in 'Major Currency Pairs' started by ForexCycle.com, Sep 26, 2008.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    GBPUSD rebounded to 1.8668 level and is now in up trend. As long as 1.8200 support holds, we'd expect up trend to continue and further rise is still possible to 1.9000 zone. However, a break below 1.8200 will indicate that a cycle top has been formed and consolidation in a range between 1.7900 and 1.8600 could be seen to follow.

    For long term analysis, GBPUSD broke above 1.8480 key resistance and formed a cycle bottom at 1.7445 on weekly chart. Rise towards 2.000 zone is expected in a couple of months.


    Weekly Forex Forecast

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