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GBPUSD remains in uptrend from 1.6692

Discussion in 'Technical Analysis' started by ForexCycle.com, Jul 3, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    GBPUSD remains in uptrend from 1.6692, the fall from 1.7176 is likely consolidation of the uptrend. Key support is now located at the lower line of the price channel on 4-hour chart. As long as the channel support holds, the uptrend could be expected to resume, and another rise towards 1.7300 is still possible. On the downside, a clear break below the channel support will indicate that the uptrend had completed at 1.7176 already, then the following downward movement could bring price back to 1.6850 area.

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  2. orni308

    orni308 New Member

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    GBPUSD pulled back yesterday a bit, but still its a good buying opportunity.
     
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