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GBPUSD rebounds from 1.7551

Discussion in 'Major Currency Pairs' started by ForexCycle.com, Oct 5, 2008.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    Being contained by the support of 1.7445 (Sep 11 low), GBPUSD rebounds from 1.7551. The pair is now in consolidation to down trend. Rise towards 1.8000 zone to reach the next short term cycle top on 4-hour chart is possible in a couple of days. However, down trend will resume after consolidation, deeper decline could be seen to 1.7000 zone, and a break below 1.7551 will confirm the resumption of down trend.


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