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GBPUSD remains in uptrend from 1.6252

Discussion in 'Technical Analysis' started by ForexCycle.com, Feb 24, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    GBPUSD remains in uptrend from 1.6252, the fall from 1.6822 is likely consolidation of the uptrend. Support is at 1.6530, as long as this level holds, the uptrend could be expected to resume, and another rise towards 1.7000 is still possible. Resistance is at 1.6730, a break above this level will signal resumption of the uptrend. On the downside, a breakdown below 1.6530 support will indicate that the uptrend from 1.6252 had completed at 1.6822 already, then the following downward movement could bring price to 1.6400 zone.


    Provided by ForexCycle.com

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