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GBPUSD’s rise extends to 1.6101

Discussion in 'Technical Analysis' started by ForexCycle.com, Nov 14, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    GBPUSD’s rise from 1.5854 extends to as high as 1.6101. Further rise to test 1.6259 resistance would likely be seen, a break above this level will signal resumption of the uptrend from 1.4813 (Jul 9 low), then the target would be at 1.7000 area. On the downside, a breakdown below 1.5854 support will confirm 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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