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GBPUSD stays in a rising price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 28, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    GBPUSD stays in a rising price channel on 4-hour chart and remains in uptrend from 1.5296. As long as the channel support (now at 1.5660) holds, uptrend is expected to continue and another rise towards the upper border of the channel would more likely be seen. However, a clear break below the channel support will indicate that the rise from 1.5296 has completed, then another fall below 1.5296 previous low could be seen.


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