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GBPUSD stays below a down trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 22, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    GBPUSD stays below a down trend line from 1.6298 to 1.6182 and remains in downtrend from 1.6298. As long as 1.6093 key resistance holds, downtrend is expected to continue and another fall towards 1.5649 is possible. However, a break above 1.6093 resistance will indicate that the fall from 1.6298 has completed at 1.5839 already, then the following upward move could bring price to 1.6500 area.

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