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GBPUSD’s fall extended to 1.6125

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 8, 2011.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    GBPUSD’s fall from 1.6343 extended to as low as 1.6125. Deeper decline towards the rising trend line on 4-hour chart is still possible later today. Uptrend could be expected to resume after touching the trend line. On the other side, a clear break below the trend line support will indicate that lengthier consolidation of uptrend from 1.5344 is underway, then the next target would be at 1.6000 zone.

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