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GBPUSD stays in a rising price channel

Discussion in 'Technical Analysis' started by ForexCycle.com, Oct 6, 2010.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    GBPUSD stays in a rising price channel and remains in uptrend from 1.5296. Further rise to test 1.5997 (Aug 6 high) resistance would more likely be seen. Support is at the lower border of the price channel, now at 1.5775, as long as the channel support holds, uptrend could be expected continue. Key support is at 1.5669, only fall below this level will indicate that the uptrend from 1.5296 has completed, then another fall towards 1.5296 previous low could be seen to follow.


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