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GBPUSD’s fall extends to 1.5914

Discussion in 'Technical Analysis' started by ForexCycle.com, Oct 10, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    GBPUSD’s fall from 1.6259 extends to as low as 1.5914. Deeper decline is still possible, and next target would be at 1.5800 area. However, the fall would possibly be consolidation of the uptrend from 1.4813 (Jul 9 low), as long as 1.5800 level holds, the uptrend could be expected to resume, and one more rise towards 1.6500 could be expected. On the downside, a breakdown below 1.5800 will indicate that the uptrend from 1.4813 had completed at 1.6259 already, then the following downward movement could bring price to 1.4500 zone.

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